Short Interest in Preformed Line Products (NASDAQ:PLPC) Increases By 7.8%

Preformed Line Products (NASDAQ:PLPC) was the recipient of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 11,000 shares, a growth of 7.8% from the November 14th total of 10,200 shares. Based on an average daily trading volume, of 6,800 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.5% of the company’s shares are sold short.

Shares of NASDAQ PLPC traded up $0.92 during trading hours on Friday, hitting $73.35. The company’s stock had a trading volume of 15,417 shares, compared to its average volume of 7,478. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.69 and a current ratio of 2.79. The stock has a market cap of $362.76 million, a price-to-earnings ratio of 16.13 and a beta of 1.62. Preformed Line Products has a 12 month low of $45.12 and a 12 month high of $76.60. The business has a 50-day simple moving average of $66.61 and a 200-day simple moving average of $56.02.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Friday, November 1st. The technology company reported $1.55 earnings per share (EPS) for the quarter. The company had revenue of $119.22 million for the quarter. Preformed Line Products had a return on equity of 9.02% and a net margin of 5.25%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp grew its stake in shares of Preformed Line Products by 2.1% in the third quarter. State Street Corp now owns 52,508 shares of the technology company’s stock worth $2,877,000 after purchasing an additional 1,065 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Preformed Line Products by 22.3% in the third quarter. First Trust Advisors LP now owns 6,048 shares of the technology company’s stock worth $330,000 after purchasing an additional 1,102 shares during the last quarter. Connors Investor Services Inc. bought a new stake in shares of Preformed Line Products in the third quarter worth about $226,000. Rhumbline Advisers grew its stake in shares of Preformed Line Products by 11.3% in the third quarter. Rhumbline Advisers now owns 4,779 shares of the technology company’s stock worth $261,000 after purchasing an additional 486 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. grew its stake in shares of Preformed Line Products by 6.7% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 79,524 shares of the technology company’s stock worth $4,341,000 after purchasing an additional 4,978 shares during the last quarter. 49.10% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on PLPC. ValuEngine cut Preformed Line Products from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. BidaskClub raised Preformed Line Products from a “hold” rating to a “buy” rating in a research note on Friday, November 22nd.

About Preformed Line Products

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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