Wed Sep 25 09:16:32 UTC 2024: ## Renaissance Technologies Boosts Stake in Preformed Line Products

**New York, NY -** Renaissance Technologies LLC, the renowned quantitative hedge fund, increased its position in Preformed Line Products (PLPC) by 0.3% in the second quarter, according to a recent SEC filing. The firm now owns 66,600 shares of the technology company, valued at $8,294,000.

This move comes amid a flurry of activity from other institutional investors. Dimensional Fund Advisors LP and Janney Montgomery Scott LLC both grew their stakes in PLPC during the quarter, while Easterly Investment Partners LLC acquired a new position. Denali Advisors LLC and Los Angeles Capital Management LLC also increased their holdings.

Overall, institutional investors and hedge funds own 41.19% of PLPC’s stock.

PLPC shares opened at $122.43 on Wednesday. The company boasts a healthy financial profile with a debt-to-equity ratio of 0.07, a quick ratio of 1.57, and a current ratio of 2.93.

The company recently declared a quarterly dividend of $0.20 per share, payable on October 21st. This represents an annualized dividend of $0.80 and a yield of 0.65%.

Preformed Line Products designs and manufactures products and systems used in the construction and maintenance of various networks for the energy, telecommunication, and other industries.

While StockNews.com recently lowered its rating on PLPC from “strong-buy” to “buy,” institutional investors like Renaissance Technologies appear to be bullish on the company’s future prospects.

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