Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume - Here's What Happened

Preformed Line Products (NASDAQ:PLPC - Get Free Report) saw an uptick in trading volume on Wednesday . 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, StockNews.com upgraded 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 Trading Up 0.1%

The stock has a market capitalization of $681.25 million, a PE ratio of 20.71 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. The firm has a 50-day moving average price of $139.59 and a 200-day moving average price of $135.40.

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

Preformed Line Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders 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 annualized dividend and a dividend yield of 0.58%. Preformed Line Products's payout ratio is currently 10.14%.

Institutional Investors Weigh In On Preformed Line Products

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 worth $30,480,000 after buying an additional 216,190 shares during the last quarter. Vanguard Group Inc. increased its holdings in Preformed Line Products by 172.8% in the 1st quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company's stock worth $25,945,000 after acquiring an additional 117,323 shares during the last quarter. Nuveen LLC purchased a new stake in Preformed Line Products in the 1st quarter worth about $15,339,000. American Century Companies Inc. raised its stake in Preformed Line Products by 160.8% in the 4th quarter. American Century Companies Inc. now owns 49,057 shares of the technology company's stock valued at $6,269,000 after acquiring an additional 30,245 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Preformed Line Products during the fourth quarter valued at about $1,764,000. Institutional investors own 41.19% of the company's stock.

Preformed Line Products Company Profile

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.

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