Preformed Line Products (NASDAQ:PLPC) Shares Down 5.2% – Time to Sell?

Preformed Line Products (NASDAQ:PLPC)’s stock price fell 5.2% during trading on Friday . The company traded as low as $141.07 and last traded at $140.77. 22,437 shares changed hands during mid-day trading, an increase of 40% from the average session volume of 15,980 shares. The stock had previously closed at $148.54.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 18th.

Preformed Line Products Price Performance

The business has a 50-day simple moving average of $135.89 and a 200 day simple moving average of $130.46. The firm has a market cap of $700.93 million, a P/E ratio of 21.30 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Thursday, March 13th. The technology company reported $2.13 EPS for the quarter. The business had revenue of $167.12 million for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, April 1st. Preformed Line Products’s dividend payout ratio (DPR) is presently 10.67%.

Hedge Funds Weigh In On Preformed Line Products

Institutional investors and hedge funds have recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in Preformed Line Products in the third quarter worth about $103,000. SG Americas Securities LLC lifted its stake in shares of Preformed Line Products by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock worth $135,000 after purchasing an additional 122 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Preformed Line Products by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock worth $180,000 after buying an additional 314 shares during the last quarter. BNP Paribas Financial Markets grew its position in Preformed Line Products by 13.1% during the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock valued at $304,000 after buying an additional 274 shares during the period. Finally, Quest Partners LLC increased its holdings in Preformed Line Products by 62.4% during the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after buying an additional 981 shares during the last quarter. 41.19% of the stock is currently 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.