Preformed Line Products (NASDAQ:PLPC) Sees Large Volume Increase - Should You Buy?

Preformed Line Products (NASDAQ:PLPC - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 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.

Analysts Set New Price Targets

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 Stock Up 1.8%

The company has a market capitalization of $724.25 million, a PE ratio of 22.01 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The business's 50 day simple moving average is $138.40 and its 200 day simple moving average is $135.98.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $2.33 EPS for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%. The firm had revenue of $148.54 million for the quarter.

Preformed Line Products Announces Dividend

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

Institutional Trading of Preformed Line Products

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in Preformed Line Products by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company's stock valued at $135,000 after buying an additional 122 shares during the period. Wells Fargo & Company MN increased its position in shares of Preformed Line Products by 28.7% in the 4th 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 purchased a new position in shares of Preformed Line Products in the 1st quarter valued at about $308,000. Private Advisor Group LLC increased its stake in Preformed Line Products by 3.6% in the fourth 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 during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Preformed Line Products by 121.1% in the 1st quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company's stock valued at $409,000 after buying an additional 1,600 shares during the last quarter. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

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.