Preformed Line Products (NASDAQ:PLPC) Shares Gap Down - Here's Why

Preformed Line Products (NASDAQ:PLPC - Get Free Report) shares gapped down prior to trading on Friday . The stock had previously closed at $137.14, but opened at $130.00. Preformed Line Products shares last traded at $134.61, with a volume of 2,076 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, March 18th.

Preformed Line Products Stock Up 0.2 %

The stock has a fifty day moving average price of $136.67 and a 200-day moving average price of $134.34. The firm has a market cap of $678.70 million, a PE ratio of 20.62 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81.

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

Preformed Line Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.58%. The ex-dividend date was Tuesday, April 1st. Preformed Line Products's dividend payout ratio (DPR) is presently 10.67%.

Institutional Investors Weigh In On Preformed Line Products

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Preformed Line Products by 93.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company's stock worth $1,040,000 after acquiring an additional 3,919 shares in the last quarter. Barclays PLC lifted its position in shares of Preformed Line Products by 135.6% during the third quarter. Barclays PLC now owns 4,989 shares of the technology company's stock worth $638,000 after purchasing an additional 2,871 shares in the last quarter. Ausbil Investment Management Ltd boosted its stake in shares of Preformed Line Products by 222.8% in the fourth quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company's stock valued at $701,000 after purchasing an additional 3,752 shares during the period. American Century Companies Inc. grew its holdings in Preformed Line Products by 160.8% during the 4th quarter. American Century Companies Inc. now owns 49,057 shares of the technology company's stock valued at $6,269,000 after purchasing an additional 30,245 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in 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 during the period. Hedge funds and other 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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