Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume - Should You Buy?

Key Points

• Preformed Line Products experienced a significant trading volume increase of 33%, with approximately 98,882 shares traded during mid-day as of Thursday, indicating heightened investor interest.
• The company reported an EPS of $2.56 and revenue of $169.60 million for its last quarter, reflecting a net margin of 6.70% and a return on equity of 9.69%.
• Preformed Line Products will distribute a quarterly dividend of $0.20 per share on October 20th, representing an annualized dividend of $0.80 with a payout ratio of 9.35%.

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 98,882 shares traded hands during mid-day trading, an increase of 33% from the previous session's volume of 74,211 shares.The stock last traded at $199.40 and had previously closed at $196.15.

Preformed Line Products Price Performance

The stock has a market capitalization of $978.34 million, a PE ratio of 23.23 and a beta of 0.75. The company has a current ratio of 3.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.06. The company's 50 day simple moving average is $181.44 and its 200 day simple moving average is $158.27.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $2.56 EPS for the quarter. The firm had revenue of $169.60 million during the quarter. Preformed Line Products had a net margin of 6.70% and a return on equity of 9.69%.

Preformed Line Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.4%. Preformed Line Products's payout ratio is currently 9.35%.

Institutional Trading of Preformed Line Products

Several institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Preformed Line Products by 15,654.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,571 shares of the technology company's stock valued at $30,480,000 after buying an additional 216,190 shares during the period. Vanguard Group Inc. grew its stake in shares of Preformed Line Products by 172.8% during the 1st quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company's stock valued at $25,945,000 after buying an additional 117,323 shares during the period. Nuveen LLC purchased a new stake in shares of Preformed Line Products during the 1st quarter valued at $15,339,000. American Century Companies Inc. grew its stake in shares of Preformed Line Products by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 81,774 shares of the technology company's stock valued at $13,068,000 after buying an additional 9,637 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Preformed Line Products by 9.3% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 78,818 shares of the technology company's stock valued at $12,596,000 after buying an additional 6,718 shares during the period. 41.19% of the stock is owned by hedge funds and other institutional investors.

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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