Insider Selling: Preformed Line Products (NASDAQ:PLPC) President Sells 2,000 Shares of Stock

Preformed Line Products (NASDAQ:PLPCGet Free Report) President Jon Ryan Ruhlman sold 2,000 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $168.78, for a total transaction of $337,560.00. Following the completion of the transaction, the president now directly owns 5,340 shares of the company’s stock, valued at approximately $901,285.20. This represents a 27.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Preformed Line Products Trading Down 1.1 %

Preformed Line Products stock opened at $125.55 on Thursday. The stock has a 50-day moving average price of $132.22 and a 200 day moving average price of $125.61. The company has a market capitalization of $614.94 million, a price-to-earnings ratio of 18.85 and a beta of 0.63. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $145.28. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

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

Preformed Line Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, January 7th. Preformed Line Products’s payout ratio is 12.01%.

Analysts Set New Price Targets

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

View Our Latest Report on PLPC

Institutional Investors Weigh In On Preformed Line Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLPC. Apis Capital Advisors LLC purchased a new stake in shares of Preformed Line Products in the second quarter worth about $573,000. Franklin Resources Inc. lifted its holdings in Preformed Line Products by 21.3% in the third quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company’s stock valued at $389,000 after acquiring an additional 556 shares during the period. FMR LLC boosted its position in Preformed Line Products by 27.7% in the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company’s stock worth $3,214,000 after purchasing an additional 5,442 shares in the last quarter. Ingalls & Snyder LLC acquired a new stake in shares of Preformed Line Products during the 3rd quarter worth approximately $521,000. Finally, Barclays PLC grew its stake in shares of Preformed Line Products by 135.6% during the 3rd quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock worth $638,000 after purchasing an additional 2,871 shares during the period. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Company Profile

(Get Free Report)

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.

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