Preformed Line Products (NASDAQ:PLPC) Shares Gap Down - Should You Sell?

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 trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Preformed Line Products from a "strong-buy" rating to a "buy" rating in a report on Monday.

Preformed Line Products Stock Down 0.1 %

The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $660.08 million, a price-to-earnings ratio of 20.06 and a beta of 0.75. The business's fifty day moving average price is $136.77 and its 200 day moving average price is $134.49.

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

Preformed Line Products Announces Dividend

The firm 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 0.60%. The ex-dividend date of this dividend was Tuesday, April 1st. Preformed Line Products's payout ratio is 10.14%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLPC. Barclays PLC raised its holdings in 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 during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Preformed Line Products by 93.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company's stock worth $1,040,000 after buying an additional 3,919 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Preformed Line Products by 13.1% in the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company's stock valued at $135,000 after purchasing an additional 122 shares in the last quarter. Ausbil Investment Management Ltd grew its position 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 last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Preformed Line Products in the fourth quarter worth $771,000. 41.19% of the stock is currently owned by institutional investors and hedge funds.

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.