Preformed Line Products (NASDAQ:PLPC) Shares Cross Below 200-Day Moving Average – Should You Sell?

Preformed Line Products Company (NASDAQ:PLPC)’s share price crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $373.15 and traded as low as $352.22. Preformed Line Products shares last traded at $369.68, with a volume of 67,522 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Freedom Capital raised shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Preformed Line Products presently has a consensus rating of “Strong Buy” and a consensus price target of $275.00.

Preformed Line Products Price Performance

The stock has a market capitalization of $1.73 billion, a P/E ratio of 39.74 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.88 and a current ratio of 2.99. The stock has a 50-day simple moving average of $414.48 and a 200 day simple moving average of $373.01.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, beating the consensus estimate of $2.41 by $2.08. Preformed Line Products had a return on equity of 10.64% and a net margin of 5.82%. The company had revenue of $212.68 million during the quarter, compared to analysts’ expectations of $193.00 million.

Preformed Line Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Thursday, October 1st will be issued a $0.21 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.84 annualized dividend and a yield of 0.2%. Preformed Line Products’s dividend payout ratio (DPR) is currently 9.46%.

Insider Buying and Selling

In other Preformed Line Products news, Director Glen E. Corlett sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 33.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Preformed Line Products in the second quarter valued at approximately $1,322,000. Bank of New York Mellon Corp acquired a new stake in Preformed Line Products during the 2nd quarter worth $7,582,000. Robotti Robert acquired a new stake in Preformed Line Products during the 2nd quarter worth $2,437,000. Quantinno Capital Management LP raised its position in shares of Preformed Line Products by 65.7% during the 1st quarter. Quantinno Capital Management LP now owns 7,748 shares of the technology company’s stock valued at $2,098,000 after acquiring an additional 3,072 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of Preformed Line Products by 138.3% during the 2nd quarter. Tidal Investments LLC now owns 10,027 shares of the technology company’s stock valued at $4,115,000 after acquiring an additional 5,820 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) designs and manufactures products and systems used to build, maintain and protect overhead and underground networks. Its customers include electric utilities, telecommunications providers, broadband operators, cable television companies and other infrastructure contractors.

The company’s product portfolio includes formed-wire products for transmission and distribution lines, such as dead-end fittings, splices, suspension hardware, armor rods and vibration-control equipment.