Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume – What’s Next?

Preformed Line Products (NASDAQ:PLPC) shares saw unusually-high trading volume on Tuesday . Approximately 24,725 shares were traded during trading, an increase of 78% from the previous session’s volume of 13,885 shares.The stock last traded at $143.29 and had previously closed at $144.83.

Analysts Set New Price Targets

Separately, StockNews.com raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

Preformed Line Products Stock Down 1.2 %

The firm has a fifty day moving average of $131.25 and a 200-day moving average of $126.52. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The firm has a market cap of $701.29 million, a P/E ratio of 21.49 and a beta of 0.63.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. The business had revenue of $146.97 million during the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.56%. Preformed Line Products’s payout ratio is 12.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC bought a new position in shares of Preformed Line Products in the third quarter valued at about $103,000. SG Americas Securities LLC acquired a new stake in Preformed Line Products during the 3rd quarter worth approximately $119,000. BNP Paribas Financial Markets boosted its stake in Preformed Line Products by 13.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock valued at $304,000 after purchasing an additional 274 shares during the period. Quest Partners LLC grew its holdings in Preformed Line Products by 62.4% in the 3rd 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 in the last quarter. Finally, Summit Global Investments bought a new position in Preformed Line Products during the 3rd quarter worth $345,000. 41.19% 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 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.