Jacobs Levy Equity Management Inc. Sells 4,231 Shares of Preformed Line Products (NASDAQ:PLPC)

Jacobs Levy Equity Management Inc. lessened its stake in Preformed Line Products (NASDAQ:PLPC) by 37.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,085 shares of the technology company’s stock after selling 4,231 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.14% of Preformed Line Products worth $907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Preformed Line Products by 5.0% during the first quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock valued at $9,398,000 after purchasing an additional 3,489 shares during the period. Renaissance Technologies LLC raised its holdings in Preformed Line Products by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock valued at $8,294,000 after buying an additional 200 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Preformed Line Products by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 32,574 shares of the technology company’s stock valued at $4,172,000 after buying an additional 471 shares during the period. Bank of New York Mellon Corp increased its position in shares of Preformed Line Products by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company’s stock valued at $3,411,000 after acquiring an additional 984 shares during the period. Finally, FMR LLC raised its stake in shares of Preformed Line Products by 27.7% during the third quarter. FMR LLC now owns 25,091 shares of the technology company’s stock valued at $3,214,000 after acquiring an additional 5,442 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Preformed Line Products Stock Performance

Shares of PLPC stock opened at $136.51 on Monday. 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 stock has a fifty day moving average of $129.99 and a 200 day moving average of $125.89. The firm has a market capitalization of $668.63 million, a price-to-earnings ratio of 20.50 and a beta of 0.60. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $145.28.

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

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, October 1st. Preformed Line Products’s payout ratio is presently 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.