WealthBridge Capital Management LLC Buys 551 Shares of Preformed Line Products (NASDAQ:PLPC)

WealthBridge Capital Management LLC lifted its stake in Preformed Line Products (NASDAQ:PLPC) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,651 shares of the technology company’s stock after purchasing an additional 551 shares during the period. WealthBridge Capital Management LLC’s holdings in Preformed Line Products were worth $978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Preformed Line Products by 93.3% in the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock worth $1,040,000 after acquiring an additional 3,919 shares during the period. Franklin Resources Inc. lifted its position in shares of Preformed Line Products by 21.3% during the third quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company’s stock valued at $389,000 after buying an additional 556 shares during the last quarter. FMR LLC lifted its position 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 buying an additional 5,442 shares during the last quarter. Ingalls & Snyder LLC purchased a new stake in shares of Preformed Line Products during the third quarter valued at about $521,000. Finally, Barclays PLC lifted its position in shares of Preformed Line Products by 135.6% during the third quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock valued at $638,000 after buying an additional 2,871 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Preformed Line Products Stock Performance

PLPC stock opened at $140.90 on Thursday. The firm has a market cap of $690.41 million, a price-to-earnings ratio of 21.16 and a beta of 0.63. The firm has a 50-day simple moving average of $133.63 and a two-hundred day simple moving average of $128.24. Preformed Line Products has a one year low of $109.01 and a one year high of $154.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81.

Preformed Line Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, January 7th. Preformed Line Products’s payout ratio is currently 12.01%.

Preformed Line Products Company 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.