Preformed Line Products (NASDAQ:PLPC) Sees Large Volume Increase

Shares of Preformed Line Products (NASDAQ:PLPC) saw unusually-strong trading volume on Monday . Approximately 21,337 shares changed hands during trading, an increase of 31% from the previous session’s volume of 16,305 shares.The stock last traded at $125.70 and had previously closed at $124.06.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th.

Preformed Line Products Stock Up 2.8 %

The company has a quick ratio of 1.73, a current ratio of 3.15 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $627.25 million, a P/E ratio of 12.17 and a beta of 0.64. The firm has a fifty day simple moving average of $127.40 and a 200-day simple moving average of $127.24.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.94 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 12.67% and a net margin of 8.20%. The business had revenue of $140.90 million during the quarter.

Preformed Line Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Monday, July 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.80 annualized dividend and a yield of 0.63%. Preformed Line Products’s dividend payout ratio (DPR) is presently 7.74%.

Institutional Trading of Preformed Line Products

A number of hedge funds have recently made changes to their positions in the business. New York State Teachers Retirement System lifted its position in shares of Preformed Line Products by 123.0% in the fourth quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock valued at $30,000 after buying an additional 123 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Preformed Line Products by 21.1% in the fourth quarter. SG Americas Securities LLC now owns 1,050 shares of the technology company’s stock valued at $141,000 after buying an additional 183 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Preformed Line Products by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock valued at $1,823,000 after buying an additional 192 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Preformed Line Products by 243.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 282 shares of the technology company’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Preformed Line Products during the 4th quarter worth approximately $34,000. 41.19% of the stock is owned by institutional investors and hedge funds.

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.