Bosun Asset Management LLC Takes $903,000 Position in Preformed Line Products Company $PLPC

Bosun Asset Management LLC purchased a new position in Preformed Line Products Company (NASDAQ:PLPC) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 5,652 shares of the technology company’s stock, valued at approximately $903,000.

A number of other institutional investors have also added to or reduced their stakes in PLPC. TrueMark Investments LLC bought a new stake in shares of Preformed Line Products during the 2nd quarter valued at $2,521,000. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Preformed Line Products by 9.3% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 78,818 shares of the technology company’s stock worth $12,596,000 after acquiring an additional 6,718 shares in the last quarter. American Century Companies Inc. lifted its position in Preformed Line Products by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock valued at $13,068,000 after acquiring an additional 9,637 shares during the period. Nuveen LLC bought a new stake in Preformed Line Products during the first quarter worth about $15,339,000. Finally, Invesco Ltd. boosted its stake in Preformed Line Products by 19.0% during the first quarter. Invesco Ltd. now owns 49,033 shares of the technology company’s stock worth $6,869,000 after acquiring an additional 7,829 shares in the last quarter. Institutional investors own 41.19% of the company’s stock.

Preformed Line Products Trading Up 0.0%

Shares of NASDAQ PLPC opened at $217.27 on Friday. The firm’s 50 day moving average price is $210.22 and its 200-day moving average price is $182.05. Preformed Line Products Company has a 52-week low of $118.99 and a 52-week high of $245.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 3.09. The company has a market cap of $1.06 billion, a PE ratio of 28.78 and a beta of 0.80.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $2.09 earnings per share for the quarter. The company had revenue of $178.09 million during the quarter. Preformed Line Products had a net margin of 5.62% and a return on equity of 10.09%.

Preformed Line Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, October 1st. Preformed Line Products’s dividend payout ratio is presently 10.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PLPC shares. Wall Street Zen lowered shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a research report on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Preformed Line Products presently has an average rating of “Buy”.

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.