Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume - Still a Buy?

Shares of Preformed Line Products (NASDAQ:PLPC - Get Free Report) saw an uptick in trading volume on Wednesday . 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.

Analyst Upgrades and Downgrades

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

Preformed Line Products Stock Down 2.0%

The company has a market cap of $690.24 million, a P/E ratio of 20.98 and a beta of 0.75. The company has a 50-day simple moving average of $138.47 and a 200 day simple moving average of $135.69. 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 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%. The company had revenue of $148.54 million for the quarter.

Preformed Line Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Tuesday, April 1st were given a $0.20 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. Preformed Line Products's payout ratio is presently 10.14%.

Hedge Funds Weigh In On Preformed Line Products

A number of large investors have recently bought and sold shares of PLPC. Strs Ohio bought a new stake in Preformed Line Products during the first quarter valued at about $476,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Preformed Line Products by 15,654.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,571 shares of the technology company's stock worth $30,480,000 after buying an additional 216,190 shares during the last quarter. American Century Companies Inc. lifted its position in Preformed Line Products by 47.0% during the first quarter. American Century Companies Inc. now owns 72,137 shares of the technology company's stock valued at $10,106,000 after acquiring an additional 23,080 shares during the last quarter. Nuveen LLC acquired a new stake in Preformed Line Products in the first quarter valued at approximately $15,339,000. Finally, Invesco Ltd. grew its holdings in Preformed Line Products by 19.0% in the first quarter. Invesco Ltd. now owns 49,033 shares of the technology company's stock worth $6,869,000 after purchasing an additional 7,829 shares during the last quarter. Institutional investors 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.