Nierenberg Investment Management Company Inc. Invests $582,000 in Preformed Line Products (NASDAQ:PLPC)

Nierenberg Investment Management Company Inc. purchased a new position in Preformed Line Products (NASDAQ:PLPC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,555 shares of the technology company’s stock, valued at approximately $582,000. Preformed Line Products accounts for approximately 0.3% of Nierenberg Investment Management Company Inc.’s investment portfolio, making the stock its 28th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Royce & Associates LP raised its stake in Preformed Line Products by 3.1% during the fourth quarter. Royce & Associates LP now owns 314,094 shares of the technology company’s stock valued at $40,138,000 after purchasing an additional 9,458 shares in the last quarter. Geode Capital Management LLC raised its position in Preformed Line Products by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 64,704 shares of the technology company’s stock valued at $8,271,000 after purchasing an additional 381 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Preformed Line Products by 2.6% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 59,803 shares of the technology company’s stock valued at $7,642,000 after purchasing an additional 1,542 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Preformed Line Products by 160.8% in the 4th quarter. American Century Companies Inc. now owns 49,057 shares of the technology company’s stock worth $6,269,000 after purchasing an additional 30,245 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Preformed Line Products by 0.4% in the 4th quarter. Invesco Ltd. now owns 41,204 shares of the technology company’s stock worth $5,265,000 after purchasing an additional 172 shares during the period. 41.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th.

Preformed Line Products Stock Performance

Preformed Line Products stock opened at $133.84 on Tuesday. Preformed Line Products has a fifty-two week low of $109.01 and a fifty-two week high of $154.90. The company has a market capitalization of $661.30 million, a PE ratio of 20.10 and a beta of 0.65. The company has a 50 day moving average price of $138.51 and a 200-day moving average price of $132.50. 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 (NASDAQ:PLPC) last issued its quarterly earnings data on Thursday, March 13th. The technology company reported $2.13 earnings per share (EPS) for the quarter. The company had revenue of $167.12 million for 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 announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Tuesday, April 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.60%. The ex-dividend date is Tuesday, April 1st. Preformed Line Products’s dividend payout ratio is currently 10.67%.

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.