Should You Invest in Preformed Line Products Company (PLPC)?
Alluvial Capital Management, an investment advisory firm, released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The second quarter was strong for the fund and returned 9.0% compared to 5.3% for the Russell 2000 Index and 4.8% for the Russell Microcap Index. Since inception and year-to-date, the fund remains well ahead of benchmarks. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Alluvial Capital Management highlighted stocks like Preformed Line Products Company (NASDAQ:PLPC) in the second quarter 2023 investor letter. Headquartered in Mayfield, Ohio, Preformed Line Products Company (NASDAQ:PLPC) designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for energy, telecommunication, cable operators, information, and other similar industries. On July 24, 2023, Preformed Line Products Company (NASDAQ:PLPC) stock closed at $175.80 per share. One-month return of Preformed Line Products Company (NASDAQ:PLPC) was 2.59%, and its shares gained 193.49% of their value over the last 52 weeks. Preformed Line Products Company (NASDAQ:PLPC) has a market capitalization of $870.718 million.
Alluvial Capital Management made the following comment about Preformed Line Products Company (NASDAQ:PLPC) in its second quarter 2023 investor letter:
"I added another holding on the same theme this quarter: Preformed Line Products Company (NASDAQ:PLPC), a family-controlled Ohio manufacturer of all sorts of products that protect cables, especially those used in power transmission and communications. With the nation and the world racing to upgrade power grids and expand broadband internet access, it’s an auspicious time for the company, and the results show it. This year will be a record one for Preformed Line Products, but shares remain very reasonably valued. Preformed Line Products has always taken a cautious approach to its finances, avoiding debt and making measured acquisitions to increase its capabilities. The company also has extremely substantial owned real estate worth around $300 million in my estimation. Preformed Line Product’s market capitalization is approaching $900 million, but its shares continue to fly under the radar thanks to their low liquidity and the company’s humble approach."
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Preformed Line Products Company (NASDAQ:PLPC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held Preformed Line Products Company (NASDAQ:PLPC) at the end of first quarter which was 7 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
