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

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) shares saw strong trading volume on Monday . 63,935 shares changed 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.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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 1.2%

The business has a 50 day simple moving average of $145.10 and a two-hundred day simple moving average of $138.48. The company has a current ratio of 3.08, a quick ratio of 1.81 and a debt-to-equity ratio of 0.06. The company has a market cap of $835.30 million, a PE ratio of 21.43 and a beta of 0.77.

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

Preformed Line Products Dividend Announcement

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

Hedge Funds Weigh In On Preformed Line Products

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

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.