Truvestments Capital LLC Buys New Holdings in Preformed Line Products (NASDAQ:PLPC)

Truvestments Capital LLC purchased a new position in shares of Preformed Line Products (NASDAQ:PLPC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 803 shares of the technology company’s stock, valued at approximately $103,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Preformed Line Products by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 32,574 shares of the technology company’s stock worth $4,172,000 after purchasing an additional 471 shares in the last quarter. Quest Partners LLC boosted its position in shares of Preformed Line Products by 62.4% during the 3rd quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock worth $327,000 after acquiring an additional 981 shares in the last quarter. Summit Global Investments purchased a new position in shares of Preformed Line Products in the 3rd quarter valued at about $345,000. Private Advisor Group LLC increased its holdings in shares of Preformed Line Products by 4.8% in the 3rd quarter. Private Advisor Group LLC now owns 2,755 shares of the technology company’s stock valued at $353,000 after acquiring an additional 125 shares during the last quarter. Finally, Koss Olinger Consulting LLC lifted its stake in Preformed Line Products by 3.8% during the third quarter. Koss Olinger Consulting LLC now owns 3,726 shares of the technology company’s stock worth $477,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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 Price Performance

Shares of NASDAQ:PLPC opened at $137.65 on Wednesday. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $145.28. The firm has a market capitalization of $674.49 million, a P/E ratio of 20.67 and a beta of 0.62. 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 company’s fifty day moving average price is $127.68 and its 200 day moving average price is $125.57.

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

Preformed Line Products Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Tuesday, October 1st. Preformed Line Products’s payout ratio is currently 12.01%.

About Preformed Line Products

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.