Preformed Line Products (NASDAQ:PLPC) Sees Unusually-High Trading Volume - What's Next?

Preformed Line Products (NASDAQ:PLPC - Get Free Report) saw strong trading volume on Thursday . 58,920 shares changed hands during trading, an increase of 173% from the previous session's volume of 21,558 shares.The stock last traded at $140.40 and had previously closed at $140.67.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Preformed Line Products from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

Preformed Line Products Trading Up 1.8%

The firm has a market cap of $724.25 million, a price-to-earnings ratio of 22.01 and a beta of 0.75. 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 business has a 50 day moving average price of $138.40 and a 200-day moving average price of $135.99.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $2.33 earnings per share (EPS) for the quarter. The company had revenue of $148.54 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Tuesday, April 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Tuesday, April 1st. Preformed Line Products's payout ratio is 10.14%.

Hedge Funds Weigh In On Preformed Line Products

A number of institutional investors have recently added to or reduced their stakes in PLPC. SG Americas Securities LLC grew its stake in shares of Preformed Line Products by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company's stock valued at $135,000 after acquiring an additional 122 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Preformed Line Products by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock valued at $180,000 after purchasing an additional 314 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Preformed Line Products during the 1st quarter valued at approximately $308,000. Private Advisor Group LLC grew its stake in Preformed Line Products by 3.6% during the 4th quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company's stock valued at $365,000 after purchasing an additional 100 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Preformed Line Products by 121.1% during the 1st quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company's stock worth $409,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 41.19% of the company's stock.

About Preformed Line Products

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.