Preformed Line Products (NASDAQ:PLPC) Shares Gap Up to $125.48

Shares of Preformed Line Products (NASDAQ:PLPC) gapped up before the market opened on Thursday . The stock had previously closed at $125.48, but opened at $129.83. Preformed Line Products shares last traded at $129.28, with a volume of 2,110 shares.

Wall Street Analyst Weigh In

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

Preformed Line Products Stock Up 4.2 %

The firm has a 50-day simple moving average of $127.09 and a 200 day simple moving average of $127.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.15 and a quick ratio of 1.73. The company has a market capitalization of $657.71 million, a PE ratio of 12.93 and a beta of 0.64.

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. The company had revenue of $140.90 million for the quarter. Preformed Line Products had a net margin of 8.20% and a return on equity of 12.67%.

Preformed Line Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Monday, July 1st were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. Preformed Line Products’s payout ratio is currently 7.74%.

Institutional Trading of Preformed Line Products

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

Preformed Line Products Company Profile

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.