Preformed Line Products (NASDAQ:PLPC) Sees Large Volume Increase - Still a Buy?

Shares of Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) saw unusually-high trading volume on Monday . Approximately 75,719 shares traded hands during trading, an increase of 133% from the previous session's volume of 32,529 shares.The stock last traded at $167.04 and had previously closed at $169.29.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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 Performance

The company has a market capitalization of $827.94 million, a price-to-earnings ratio of 21.24 and a beta of 0.77. The stock has a 50 day simple moving average of $148.66 and a 200 day simple moving average of $140.13. The company has a quick ratio of 1.81, a current ratio of 3.08 and a debt-to-equity ratio of 0.06.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share for the quarter. Preformed Line Products had a return on equity of 9.16% and a net margin of 6.49%. The firm had revenue of $148.54 million for the quarter.

Preformed Line Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, July 20th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Tuesday, July 1st. Preformed Line Products's dividend payout ratio (DPR) is presently 10.14%.

Institutional Trading of Preformed Line Products

A number of large investors have recently added to or reduced their stakes in PLPC. Wells Fargo & Company MN grew its position in Preformed Line Products by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock worth $180,000 after purchasing an additional 314 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Preformed Line Products in the first quarter worth about $308,000. New York State Common Retirement Fund grew its stake in 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. GAMMA Investing LLC increased its position in Preformed Line Products by 30,720.0% in the 1st quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company's stock worth $432,000 after buying an additional 3,072 shares during the period. Finally, Strs Ohio acquired a new stake in Preformed Line Products in the 1st quarter worth $476,000. 41.19% of the stock is currently owned by 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.