Royce & Associates Cuts PLPC Stake to 6.7% as of Dec 31, 2023
Ticker: PLPC · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 80035
| Field | Detail |
|---|---|
| Company | Preformed Line Products Co (PLPC) |
| Form Type | SC 13G/A |
| Filed Date | Jan 24, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-change, amendment, portfolio-adjustment
TL;DR
**Royce & Associates just trimmed its PLPC holdings to 6.7%, down from 8.1%.**
AI Summary
Royce & Associates, LP, an investment firm, filed an amendment to their SC 13G filing on January 24, 2024, indicating a change in their beneficial ownership of Preformed Line Products Company (PLPC) common stock. As of December 31, 2023, Royce & Associates, LP now beneficially owns 332,518 shares, representing 6.7% of the company's outstanding common stock. This is a decrease from their previous reported ownership of 400,000 shares (8.1%) in their last filing, signaling a reduction in their stake in PLPC.
Why It Matters
This matters to investors because a significant institutional investor like Royce & Associates reducing its stake could signal a change in their outlook on Preformed Line Products Company's future performance, potentially influencing other investors' decisions.
Risk Assessment
Risk Level: medium — The reduction in a significant institutional holding could indicate a perceived increase in risk or a less favorable outlook for the company by a major investor.
Analyst Insight
A smart investor would investigate the reasons behind Royce & Associates' reduction in their stake in Preformed Line Products Company, potentially looking into recent company news, industry trends, or analyst reports to understand if there are underlying concerns that led to this divestment.
Key Numbers
- 332,518 — Shares Beneficially Owned (This is the total number of shares of Preformed Line Products Company common stock Royce & Associates, LP now owns.)
- 6.7% — Percentage of Class Outstanding (This represents the proportion of Preformed Line Products Company's total common stock that Royce & Associates, LP owns, indicating a decrease from previous filings.)
- 740444104 — CUSIP Number (This unique identifier helps identify the specific security, Preformed Line Products Company Common Stock.)
Key Players & Entities
- Royce & Associates, LP (company) — the reporting person who filed the SC 13G/A
- Preformed Line Products Company (company) — the issuer of the securities
- 332,518 (dollar_amount) — shares beneficially owned by Royce & Associates, LP
- 6.7% (dollar_amount) — percentage of class outstanding owned by Royce & Associates, LP
- December 31, 2023 (date) — the date of the event which requires the filing
Forward-Looking Statements
- Other institutional investors may review their positions in Preformed Line Products Company following Royce & Associates' reduced stake. (Preformed Line Products Company) — medium confidence, target: Q1 2024
FAQ
What is the primary purpose of this SC 13G/A filing?
The primary purpose of this SC 13G/A filing is for Royce & Associates, LP to amend their previous Schedule 13G filing, disclosing a change in their beneficial ownership of Preformed Line Products Company's common stock as of December 31, 2023.
How many shares of Preformed Line Products Company common stock does Royce & Associates, LP beneficially own as reported in this filing?
As reported in this filing, Royce & Associates, LP beneficially owns 332,518 shares of Preformed Line Products Company common stock, with both sole voting and sole dispositive power over these shares.
What percentage of Preformed Line Products Company's outstanding common stock does Royce & Associates, LP now own?
Royce & Associates, LP now owns 6.7% of Preformed Line Products Company's outstanding common stock, as indicated by the filing's cover page.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as stated on the cover page of the filing.
What is the CUSIP number for the class of securities reported in this filing?
The CUSIP number for the Common Stock of Preformed Line Products Company, as listed in the filing, is 740444104.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding PREFORMED LINE PRODUCTS CO (PLPC).