Ausbil Investment Management Ltd Decreases Stock Position in Preformed Line Products (NASDAQ:PLPC)

Ausbil Investment Management Ltd cut its holdings in Preformed Line Products (NASDAQ:PLPC) by 62.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,684 shares of the technology company’s stock after selling 2,806 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Preformed Line Products were worth $216,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PLPC. Private Advisor Group LLC lifted its stake in Preformed Line Products by 4.8% during the 3rd quarter. Private Advisor Group LLC now owns 2,755 shares of the technology company’s stock valued at $353,000 after acquiring an additional 125 shares during the period. Koss Olinger Consulting LLC raised its holdings in shares of Preformed Line Products by 3.8% during the third quarter. Koss Olinger Consulting LLC now owns 3,726 shares of the technology company’s stock valued at $477,000 after purchasing an additional 138 shares during the last quarter. Cardinal Capital Management lifted its position in Preformed Line Products by 10.8% during the third quarter. Cardinal Capital Management now owns 10,252 shares of the technology company’s stock valued at $1,313,000 after purchasing an additional 997 shares during the period. SG Americas Securities LLC purchased a new stake in Preformed Line Products in the third quarter worth approximately $119,000. Finally, AQR Capital Management LLC raised its stake in Preformed Line Products by 10.4% during the 2nd quarter. AQR Capital Management LLC now owns 17,936 shares of the technology company’s stock valued at $2,234,000 after buying an additional 1,687 shares during the last quarter. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Preformed Line Products Stock Performance

Shares of NASDAQ PLPC traded up $0.03 during midday trading on Thursday, hitting $126.00. 1,935 shares of the stock traded hands, compared to its average volume of 15,141. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.57 and a current ratio of 2.93. Preformed Line Products has a one year low of $104.96 and a one year high of $141.66. The firm has a market capitalization of $618.66 million, a P/E ratio of 15.46 and a beta of 0.61. The firm has a 50-day moving average of $120.81 and a two-hundred day moving average of $124.37.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.89 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 9.83% and a net margin of 6.90%. The business had revenue of $138.72 million during the quarter.

Preformed Line Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Tuesday, October 1st. Preformed Line Products’s dividend payout ratio is presently 9.82%.

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.