Preformed Line Products said on September 20, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.
Shareholders of record as of October 2, 2023 will receive the payment on October 20, 2023.
At the current share price of $167.19 / share, the stock's dividend yield is 0.48%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.22%, the lowest has been 0.46%, and the highest has been 1.94%. The standard deviation of yields is 0.32 (n=236).
The current dividend yield is 2.32 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 293 funds or institutions reporting positions in Preformed Line Products. This is an increase of 28 owner(s) or 10.57% in the last quarter. Average portfolio weight of all funds dedicated to PLPC is 0.14%, an increase of 5.04%. Total shares owned by institutions decreased in the last three months by 4.11% to 2,642K shares.
What are Other Shareholders Doing?
Royce & Associates holds 338K shares representing 6.87% ownership of the company. In it's prior filing, the firm reported owning 335K shares, representing an increase of 0.89%. The firm increased its portfolio allocation in PLPC by 19.32% over the last quarter.
HighTower Advisors holds 159K shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 159K shares, representing a decrease of 0.13%. The firm increased its portfolio allocation in PLPC by 9.86% over the last quarter.
RYSEX - Royce Special Equity Fund Investment Class holds 124K shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 68K shares, representing an increase of 44.98%. The firm increased its portfolio allocation in PLPC by 115.78% over the last quarter.
PENNX - Royce Pennsylvania Mutual Fund Investment Class holds 112K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 142K shares, representing a decrease of 26.28%. The firm decreased its portfolio allocation in PLPC by 7.96% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 100K shares representing 2.04% ownership of the company. No change in the last quarter.
Preformed Line Products Background Information
(This description is provided by the company.)
Founded in 1947, Preformed Line Products is a leading designer, manufacturer, and supplier of products and services used to construct and maintain overhead and underground networks. The company operates in several critical infrastructure industries, including electric power, telecommunications, broadband, and renewable energy, among others. Headquartered in Cleveland, Ohio, PLP has two domestic manufacturing facilities, eighteen foreign subsidiaries, and a global network of more than 3,000 employees.
Additional reading:
- PREFORMED LINE PRODUCTS COMPANY CONSOLIDATED BALANCE SHEETS
- PREFORMED LINE PRODUCTS ANNOUNCES FIRST QUARTER 2023 FINANCIAL RESULTS
- Subsidiaries of Preformed Line Products Company, filed herewith.
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