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

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $140.59, but opened at $153.08. Preformed Line Products shares last traded at $151.06, with a volume of 13,049 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised 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 stock has a market capitalization of $729.78 million, a P/E ratio of 17.41 and a beta of 0.79. The company has a quick ratio of 1.83, a current ratio of 3.08 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $152.90 and a 200-day moving average price of $142.82.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.56 earnings per share for the quarter. Preformed Line Products had a return on equity of 9.69% and a net margin of 6.70%. The company had revenue of $169.60 million for the quarter.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.5%. Preformed Line Products's dividend payout ratio is currently 9.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PLPC. JPMorgan Chase & Co. lifted its holdings in Preformed Line Products by 50.7% in the fourth quarter. JPMorgan Chase & Co. now owns 12,238 shares of the technology company's stock valued at $1,564,000 after acquiring an additional 4,119 shares during the period. Geode Capital Management LLC lifted its holdings in Preformed Line Products by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 64,704 shares of the technology company's stock valued at $8,271,000 after acquiring an additional 381 shares during the period. Wells Fargo & Company MN increased its position in Preformed Line Products by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock worth $180,000 after buying an additional 314 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in Preformed Line Products by 2.6% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 59,803 shares of the technology company's stock worth $7,642,000 after buying an additional 1,542 shares in the last quarter. Finally, Invesco Ltd. increased its position in Preformed Line Products by 0.4% in the fourth quarter. Invesco Ltd. now owns 41,204 shares of the technology company's stock worth $5,265,000 after buying an additional 172 shares in the last quarter. 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.