Wells Fargo & Company MN Has $180,000 Position in Preformed Line Products (NASDAQ:PLPC)

Wells Fargo & Company MN boosted its holdings in shares of Preformed Line Products (NASDAQ:PLPC) by 28.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,409 shares of the technology company’s stock after purchasing an additional 314 shares during the quarter. Wells Fargo & Company MN’s holdings in Preformed Line Products were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in PLPC. JPMorgan Chase & Co. increased its position in Preformed Line Products by 93.3% during the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock worth $1,040,000 after acquiring an additional 3,919 shares during the period. Barclays PLC increased its stake in Preformed Line Products by 135.6% during the third quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock valued at $638,000 after acquiring an additional 2,871 shares during the period. Ausbil Investment Management Ltd raised its holdings in Preformed Line Products by 222.8% in the 4th quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company’s stock valued at $701,000 after acquiring an additional 3,752 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Preformed Line Products by 160.8% in the 4th quarter. American Century Companies Inc. now owns 49,057 shares of the technology company’s stock worth $6,269,000 after acquiring an additional 30,245 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of Preformed Line Products by 3.6% during the 4th quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company’s stock worth $365,000 after purchasing an additional 100 shares in the last quarter. 41.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th.

Preformed Line Products Stock Performance

NASDAQ:PLPC opened at $135.96 on Friday. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $137.25 and a 200 day moving average price of $134.66. The firm has a market capitalization of $671.64 million, a PE ratio of 20.41 and a beta of 0.75. Preformed Line Products has a 12-month low of $109.01 and a 12-month high of $154.90.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share for the quarter. The firm had revenue of $148.54 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.80 annualized dividend and a yield of 0.59%. Preformed Line Products’s dividend payout ratio is 10.14%.

Preformed Line Products 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.