Preformed Line Products (NASDAQ:PLPC) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.
Separately, BidaskClub raised Preformed Line Products from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th.
Shares of PLPC opened at $63.20 on Thursday. Preformed Line Products has a one year low of $55.41 and a one year high of $96.83. The company has a quick ratio of 2.02, a current ratio of 3.31 and a debt-to-equity ratio of 0.16. The stock has a market cap of $326.99 million, a price-to-earnings ratio of 17.14 and a beta of 1.20.
Several hedge funds have recently modified their holdings of the company. First Trust Advisors LP acquired a new position in shares of Preformed Line Products in the 3rd quarter valued at about $290,000. Ramsey Quantitative Systems lifted its holdings in shares of Preformed Line Products by 98.9% in the 3rd quarter. Ramsey Quantitative Systems now owns 5,962 shares of the technology company’s stock valued at $419,000 after buying an additional 2,964 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Preformed Line Products by 17.8% in the 2nd quarter. California Public Employees Retirement System now owns 5,890 shares of the technology company’s stock valued at $523,000 after buying an additional 890 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of Preformed Line Products in the 2nd quarter valued at about $136,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Preformed Line Products by 23,619.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,353 shares of the technology company’s stock valued at $653,000 after buying an additional 7,322 shares during the period. 45.10% of the stock is owned by institutional investors and hedge funds.
Preformed Line Products Company Profile
Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.
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