Baker Ellis Asset Management LLC Reduces Stock Position in Preformed Line Products (NASDAQ:PLPC)

Baker Ellis Asset Management LLC lessened its holdings in Preformed Line Products (NASDAQ:PLPC) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,320 shares of the technology company’s stock after selling 200 shares during the quarter. Baker Ellis Asset Management LLC owned approximately 0.11% of Preformed Line Products worth $685,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. New York State Teachers Retirement System boosted its stake in Preformed Line Products by 123.0% in the fourth quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock valued at $30,000 after acquiring an additional 123 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Preformed Line Products during the fourth quarter worth about $34,000. Tower Research Capital LLC TRC boosted its stake in shares of Preformed Line Products by 243.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 282 shares of the technology company’s stock worth $38,000 after buying an additional 200 shares during the period. Quest Partners LLC acquired a new stake in shares of Preformed Line Products during the fourth quarter worth about $75,000. Finally, SG Americas Securities LLC boosted its stake in shares of Preformed Line Products by 21.1% during the fourth quarter. SG Americas Securities LLC now owns 1,050 shares of the technology company’s stock worth $141,000 after buying an additional 183 shares during the period. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th.

Preformed Line Products Price Performance

Preformed Line Products stock traded up $0.33 during mid-day trading on Friday, reaching $124.54. The company had a trading volume of 54,342 shares, compared to its average volume of 13,706. Preformed Line Products has a 1 year low of $104.96 and a 1 year high of $184.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.15 and a quick ratio of 1.73. The company has a market capitalization of $612.74 million, a P/E ratio of 12.04 and a beta of 0.70. The stock’s 50-day simple moving average is $128.63 and its 200-day simple moving average is $128.47.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.94 earnings per share for the quarter. Preformed Line Products had a net margin of 8.20% and a return on equity of 12.67%. The business had revenue of $140.90 million during the quarter.

Preformed Line Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.64%. Preformed Line Products’s dividend payout ratio (DPR) is 7.74%.

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.