Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume - Time to Buy?

Preformed Line Products (NASDAQ:PLPC - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 41,923 shares traded hands during mid-day trading, an increase of 122% from the previous session's volume of 18,858 shares.The stock last traded at $144.04 and had previously closed at $143.30.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th.

Preformed Line Products Stock Down 2.0%

The firm has a 50 day moving average price of $138.47 and a 200-day moving average price of $135.73. The firm has a market cap of $710.37 million, a PE ratio of 21.59 and a beta of 0.75. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $148.54 million during the quarter.

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. Preformed Line Products's dividend payout ratio (DPR) is presently 10.14%.

Institutional Trading of Preformed Line Products

Institutional investors and hedge funds have recently modified their holdings of the business. Martingale Asset Management L P lifted its stake in shares of Preformed Line Products by 0.9% in the 4th quarter. Martingale Asset Management L P now owns 9,131 shares of the technology company's stock worth $1,167,000 after acquiring an additional 80 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Preformed Line Products by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 6,574 shares of the technology company's stock valued at $921,000 after buying an additional 95 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of 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 worth $365,000 after purchasing an additional 100 shares in the last quarter. SG Americas Securities LLC raised its holdings 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 worth $135,000 after acquiring an additional 122 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Preformed Line Products by 0.4% in the fourth quarter. Invesco Ltd. now owns 41,204 shares of the technology company's stock valued at $5,265,000 after purchasing an additional 172 shares in the last quarter. 41.19% of the stock is owned by institutional investors and hedge funds.

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.