Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume – What’s Next?

Preformed Line Products (NASDAQ:PLPC) saw unusually-strong trading volume on Tuesday . Approximately 111,985 shares were traded during mid-day trading, an increase of 341% from the previous session’s volume of 25,391 shares.The stock last traded at $153.33 and had previously closed at $154.21.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 13th.

Preformed Line Products Stock Performance

The stock has a market cap of $756.40 million, a P/E ratio of 23.01 and a beta of 0.75. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $140.65 and a two-hundred day moving average price of $136.64.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $2.33 earnings per share for the quarter. The firm had revenue of $148.54 million during the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Hedge Funds Weigh In On Preformed Line Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLPC. Wells Fargo & Company MN boosted its stake in Preformed Line Products by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock valued at $180,000 after buying an additional 314 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Preformed Line Products during the first quarter valued at approximately $308,000. Private Advisor Group LLC boosted its stake in Preformed Line Products by 3.6% during the fourth quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company’s stock valued at $365,000 after buying an additional 100 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Preformed Line Products by 121.1% during the first quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company’s stock valued at $409,000 after buying an additional 1,600 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Preformed Line Products by 30,720.0% during the first quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company’s stock valued at $432,000 after buying an additional 3,072 shares during the last quarter. 41.19% of the stock is owned by institutional investors.

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.