Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume – Here’s Why

Preformed Line Products (NASDAQ:PLPC) saw unusually-strong trading volume on Tuesday . Approximately 24,725 shares changed hands during mid-day trading, an increase of 78% from the previous session’s volume of 13,885 shares.The stock last traded at $143.29 and had previously closed at $144.83.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

Preformed Line Products Price Performance

The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $719.52 million, a PE ratio of 22.05 and a beta of 0.63. The business has a fifty day moving average price of $131.45 and a 200-day moving average price of $126.65.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 EPS for the quarter. The business had revenue of $146.97 million for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, January 7th. Preformed Line Products’s payout ratio is presently 12.01%.

Hedge Funds Weigh In On Preformed Line Products

A number of large investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its holdings in shares of Preformed Line Products by 82.4% during the second quarter. American Century Companies Inc. now owns 4,822 shares of the technology company’s stock worth $601,000 after purchasing an additional 2,179 shares during the period. AQR Capital Management LLC grew its position in shares of Preformed Line Products by 10.4% in the 2nd quarter. AQR Capital Management LLC now owns 17,936 shares of the technology company’s stock worth $2,234,000 after buying an additional 1,687 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Preformed Line Products during the third quarter valued at approximately $119,000. Cardinal Capital Management raised its holdings in shares of Preformed Line Products by 10.8% during the third quarter. Cardinal Capital Management now owns 10,252 shares of the technology company’s stock valued at $1,313,000 after acquiring an additional 997 shares in the last quarter. Finally, Koss Olinger Consulting LLC lifted its stake in Preformed Line Products by 3.8% in the third quarter. Koss Olinger Consulting LLC now owns 3,726 shares of the technology company’s stock worth $477,000 after acquiring an additional 138 shares during the period. 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.