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

Preformed Line Products (NASDAQ:PLPC - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 16,806 shares changed hands during trading, a decline of 7% from the previous session's volume of 18,055 shares.The stock last traded at $137.46 and had previously closed at $139.06.

Analyst Upgrades and Downgrades

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 1.9%

The stock has a market capitalization of $683.00 million, a price-to-earnings ratio of 20.76 and a beta of 0.75. The business has a fifty day moving average of $138.84 and a 200 day moving average of $135.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56.

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

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Tuesday, April 1st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Tuesday, April 1st. Preformed Line Products's dividend payout ratio is presently 10.14%.

Institutional Trading of Preformed Line Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP raised its position in Preformed Line Products by 3.1% in the fourth quarter. Royce & Associates LP now owns 314,094 shares of the technology company's stock valued at $40,138,000 after purchasing an additional 9,458 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Preformed Line Products by 15,654.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,571 shares of the technology company's stock valued at $30,480,000 after purchasing an additional 216,190 shares during the period. Vanguard Group Inc. raised its position in Preformed Line Products by 172.8% in the first quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company's stock valued at $25,945,000 after purchasing an additional 117,323 shares during the period. Nuveen LLC purchased a new stake in Preformed Line Products in the first quarter valued at approximately $15,339,000. Finally, American Century Companies Inc. raised its position in Preformed Line Products by 47.0% in the first quarter. American Century Companies Inc. now owns 72,137 shares of the technology company's stock valued at $10,106,000 after purchasing an additional 23,080 shares during the period. Hedge funds and other 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.