Preformed Line Products (NASDAQ:PLPC) Shares Gap Down – What’s Next?

Preformed Line Products Company (NASDAQ:PLPC)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $250.43, but opened at $238.08. Preformed Line Products shares last traded at $240.35, with a volume of 4,021 shares changing hands.

Analyst Upgrades and Downgrades

PLPC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Preformed Line Products in a research note on Monday, December 29th. Wall Street Zen lowered Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

Preformed Line Products Price Performance

The company has a 50 day moving average price of $219.60 and a 200-day moving average price of $200.70. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 31.99 and a beta of 0.78. The company has a quick ratio of 1.84, a current ratio of 3.09 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, October 29th. The technology company reported $2.09 earnings per share for the quarter. The firm had revenue of $178.09 million for the quarter. Preformed Line Products had a net margin of 5.62% and a return on equity of 10.09%.

Preformed Line Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $0.84 annualized dividend and a yield of 0.3%. This is an increase from Preformed Line Products’s previous quarterly dividend of $0.20. Preformed Line Products’s dividend payout ratio is 11.13%.

Institutional Investors Weigh In On Preformed Line Products

Institutional investors have recently made changes to their positions in the stock. Montag A & Associates Inc. bought a new position in shares of Preformed Line Products during the third quarter worth about $29,000. Huntington National Bank raised its holdings in Preformed Line Products by 181.7% during the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock worth $39,000 after purchasing an additional 129 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Preformed Line Products by 2,562.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after purchasing an additional 205 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Preformed Line Products in the 3rd quarter valued at $51,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Preformed Line Products by 199.0% during the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after buying an additional 199 shares during the period. Institutional investors own 41.19% of the company’s stock.

Preformed Line Products Company Profile

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.