Preformed Line Products (NASDAQ:PLPC) Short Interest Update

Preformed Line Products (NASDAQ:PLPC - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 100,000 shares, an increase of 76.4% from the March 15th total of 56,700 shares. Based on an average trading volume of 29,200 shares, the short-interest ratio is currently 3.4 days. Approximately 3.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com upgraded 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

Shares of Preformed Line Products stock traded down $2.64 on Monday, reaching $134.27. 16,207 shares of the stock were exchanged, compared to its average volume of 17,964. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The firm has a market cap of $663.43 million, a PE ratio of 20.16 and a beta of 0.65. The firm's 50 day moving average is $136.80 and its 200-day moving average is $133.54. Preformed Line Products has a one year low of $109.01 and a one year high of $154.90.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%. The firm had revenue of $167.12 million for the quarter.

Preformed Line Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Tuesday, April 1st will be issued a $0.20 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.60%. Preformed Line Products's dividend payout ratio (DPR) is currently 10.67%.

Institutional Investors Weigh In On Preformed Line Products

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of Preformed Line Products by 93.3% during the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company's stock worth $1,040,000 after buying an additional 3,919 shares during the last quarter. Franklin Resources Inc. increased its holdings in Preformed Line Products by 21.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company's stock worth $389,000 after purchasing an additional 556 shares in the last quarter. Barclays PLC raised its position in Preformed Line Products by 135.6% in the third quarter. Barclays PLC now owns 4,989 shares of the technology company's stock valued at $638,000 after purchasing an additional 2,871 shares during the last quarter. Ausbil Investment Management Ltd boosted its stake in shares of Preformed Line Products by 222.8% during the fourth quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company's stock valued at $701,000 after purchasing an additional 3,752 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Preformed Line Products by 160.8% during the fourth quarter. American Century Companies Inc. now owns 49,057 shares of the technology company's stock worth $6,269,000 after purchasing an additional 30,245 shares during the last quarter. 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.