Preformed Line Products (NASDAQ:PLPC) Sees Large Volume Increase - Time to Buy?

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) saw unusually-high trading volume on Monday . Approximately 75,719 shares were traded during mid-day 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.

Wall Street Analysts Forecast Growth

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 Down 2.0%

The company has a quick ratio of 1.81, a current ratio of 3.08 and a debt-to-equity ratio of 0.06. The firm has a market cap of $819.20 million, a price-to-earnings ratio of 21.02 and a beta of 0.77. The business has a 50 day moving average price of $146.88 and a 200-day moving average price of $139.46.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its earnings results 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 9.16% and a net margin of 6.49%. The business had revenue of $148.54 million during the quarter.

Preformed Line Products Dividend Announcement

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

Institutional Investors Weigh In On Preformed Line Products

A number of large investors have recently modified their holdings of the stock. Martingale Asset Management L P grew its stake in shares of Preformed Line Products by 0.9% in the fourth quarter. Martingale Asset Management L P now owns 9,131 shares of the technology company's stock valued at $1,167,000 after buying an additional 80 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Preformed Line Products by 1.5% during the 1st quarter. SummerHaven Investment Management LLC now owns 6,574 shares of the technology company's stock valued at $921,000 after purchasing an additional 95 shares in the last quarter. Invesco Ltd. grew its stake in Preformed Line Products by 0.4% during the 4th 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. Charles Schwab Investment Management Inc. grew its stake in Preformed Line Products by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,760 shares of the technology company's stock valued at $4,186,000 after purchasing an additional 186 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Preformed Line Products by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 17,293 shares of the technology company's stock valued at $2,210,000 after purchasing an additional 270 shares in 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.