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

Shares of Preformed Line Products (NASDAQ:PLPC) saw unusually-strong trading volume on Tuesday . Approximately 24,725 shares traded hands during 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 Ratings Changes

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

Preformed Line Products Stock Performance

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 company has a market cap of $719.52 million, a PE ratio of 22.05 and a beta of 0.63. The company has a 50-day moving average of $131.45 and a 200-day moving average of $126.65.

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

Preformed Line Products Dividend Announcement

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

Institutional Investors Weigh In On Preformed Line Products

A number of hedge funds have recently modified their holdings of PLPC. Truvestments Capital LLC purchased a new stake in shares of Preformed Line Products during the 3rd quarter valued at approximately $103,000. SG Americas Securities LLC bought a new position in shares of Preformed Line Products in the third quarter worth $119,000. BNP Paribas Financial Markets grew its position in shares of Preformed Line Products by 13.1% in the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock valued at $304,000 after purchasing an additional 274 shares in the last quarter. Quest Partners LLC raised its stake in shares of Preformed Line Products by 62.4% during the 3rd quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after purchasing an additional 981 shares during the period. Finally, Summit Global Investments purchased a new stake in Preformed Line Products during the 3rd quarter worth about $345,000. Institutional investors own 41.19% of the company’s stock.

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.