Preformed Line Products (NASDAQ:PLPC) Sees Unusually-High Trading Volume Following Dividend Announcement

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) shares saw strong trading volume on Monday following a dividend announcement from the company. 35,170 shares traded hands during trading, an increase of 31% from the previous session's volume of 26,805 shares.The stock last traded at $153.37 and had previously closed at $153.54.

The newly announced dividend which will be paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Tuesday, July 1st. Preformed Line Products's payout ratio is 10.14%.

Wall Street Analysts Forecast Growth

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 Up 4.4%

The firm's 50 day simple moving average is $143.08 and its 200 day simple moving average is $137.66. The company has a market cap of $790.05 million, a price-to-earnings ratio of 20.27 and a beta of 0.75. 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 announced 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.

Hedge Funds Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC raised its position in shares of Preformed Line Products by 3.6% during the 4th quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company's stock worth $365,000 after buying an additional 100 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Preformed Line Products during the fourth quarter worth approximately $1,764,000. Charles Schwab Investment Management Inc. lifted its position in Preformed Line Products by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,760 shares of the technology company's stock worth $4,186,000 after purchasing an additional 186 shares during the period. Victory Capital Management Inc. boosted 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. Finally, Royce & Associates LP lifted its holdings in shares of 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 buying an additional 9,458 shares during the period. 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.