Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume - Time to Buy?

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) shares saw an uptick in trading volume on Monday . 63,935 shares traded hands during mid-day trading, an increase of 107% from the previous session's volume of 30,883 shares.The stock last traded at $159.81 and had previously closed at $159.00.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Preformed Line Products from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

Preformed Line Products Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.81. The company has a market cap of $835.30 million, a price-to-earnings ratio of 21.43 and a beta of 0.77. The firm has a 50 day simple moving average of $145.71 and a 200-day simple moving average of $138.72.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share for the quarter. The business had revenue of $148.54 million during the quarter. Preformed Line Products had a return on equity of 9.16% and a net margin of 6.49%.

Preformed Line Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, July 1st. Preformed Line Products's dividend payout ratio (DPR) is presently 10.14%.

Institutional Investors Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its holdings in Preformed Line Products by 28.7% in the 4th quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock valued at $180,000 after purchasing an additional 314 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Preformed Line Products during the first quarter worth $308,000. Private Advisor Group LLC grew its stake in shares of Preformed Line Products by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company's stock valued at $365,000 after buying an additional 100 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Preformed Line Products by 121.1% in the first quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company's stock valued at $409,000 after buying an additional 1,600 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Preformed Line Products by 30,720.0% in the 1st quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company's stock valued at $432,000 after buying an additional 3,072 shares during the period. 41.19% of the stock is owned by hedge funds and other institutional investors.

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.