Preformed Line Products (NASDAQ:PLPC) Short Interest Up 23.9% in June

Preformed Line Products (NASDAQ:PLPC) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 35,200 shares, a growth of 23.9% from the May 31st total of 28,400 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 14,900 shares, the short-interest ratio is presently 2.4 days.

Preformed Line Products Price Performance

NASDAQ PLPC traded up $0.79 during trading on Tuesday, reaching $122.29. 3,567 shares of the company traded hands, compared to its average volume of 15,889. Preformed Line Products has a 1-year low of $104.96 and a 1-year high of $184.82. The company has a market cap of $601.67 million, a price-to-earnings ratio of 11.75 and a beta of 0.65. The stock’s 50 day moving average price is $128.61 and its two-hundred day moving average price is $128.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.73 and a current ratio of 3.15.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.94 EPS for the quarter. Preformed Line Products had a return on equity of 12.67% and a net margin of 8.20%. The business had revenue of $140.90 million during the quarter.

Preformed Line Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Monday, July 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Monday, July 1st. Preformed Line Products’s payout ratio is 7.74%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th.

Hedge Funds Weigh In On Preformed Line Products

Several institutional investors have recently added to or reduced their stakes in PLPC. Charles Schwab Investment Management Inc. boosted its holdings in shares of Preformed Line Products by 84.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,294 shares of the technology company’s stock worth $5,088,000 after acquiring an additional 14,363 shares in the last quarter. FMR LLC boosted its stake in Preformed Line Products by 0.7% in the third quarter. FMR LLC now owns 20,906 shares of the technology company’s stock worth $3,399,000 after purchasing an additional 155 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Preformed Line Products by 215.5% during the third quarter. Invesco Ltd. now owns 68,311 shares of the technology company’s stock worth $11,106,000 after purchasing an additional 46,656 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Preformed Line Products by 23.5% in the third quarter. Lazard Asset Management LLC now owns 2,987 shares of the technology company’s stock valued at $485,000 after buying an additional 568 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in shares of Preformed Line Products in the third quarter valued at $322,000. 41.19% of the stock is owned by 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.