Jacobs Levy Equity Management Inc. Sells 4,231 Shares of Preformed Line Products (NASDAQ:PLPC)

Jacobs Levy Equity Management Inc. decreased its holdings in Preformed Line Products (NASDAQ:PLPC) by 37.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,085 shares of the technology company’s stock after selling 4,231 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Preformed Line Products were worth $907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLPC. Vanguard Group Inc. raised its position in Preformed Line Products by 5.0% during the first quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock valued at $9,398,000 after purchasing an additional 3,489 shares during the period. Easterly Investment Partners LLC purchased a new stake in Preformed Line Products during the 2nd quarter valued at $1,658,000. Bank of New York Mellon Corp lifted its position in Preformed Line Products by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company’s stock worth $3,411,000 after buying an additional 984 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Preformed Line Products during the second quarter worth $52,000. Finally, Innealta Capital LLC bought a new position in Preformed Line Products during the second quarter valued at $27,000. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 19th.

Preformed Line Products Stock Up 1.0 %

Shares of NASDAQ:PLPC opened at $136.51 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The business has a 50 day simple moving average of $129.99 and a two-hundred day simple moving average of $125.89. Preformed Line Products has a 1 year low of $109.01 and a 1 year high of $145.28. The firm has a market capitalization of $668.63 million, a PE ratio of 20.50 and a beta of 0.60.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.54 EPS for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%. The company had revenue of $146.97 million for the quarter.

Preformed Line Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Tuesday, October 1st. Preformed Line Products’s payout ratio is presently 12.01%.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.