Preformed Line Products (NASDAQ:PLPC) Stock Price Down 1.9%

Preformed Line Products (NASDAQ:PLPC)’s share price traded down 1.9% during mid-day trading on Tuesday . The company traded as low as $123.00 and last traded at $123.00. 573 shares were traded during mid-day trading, a decline of 97% from the average session volume of 16,464 shares. The stock had previously closed at $125.44.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 8th.

Preformed Line Products Trading Up 3.1 %

The firm has a market cap of $617.73 million, a PE ratio of 9.88 and a beta of 0.75. The firm has a fifty day simple moving average of $128.45 and a two-hundred day simple moving average of $134.75. The company has a current ratio of 2.92, a quick ratio of 1.58 and a debt-to-equity ratio of 0.12.

Preformed Line Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Tuesday, April 2nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, April 1st. Preformed Line Products’s payout ratio is 6.31%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PLPC. Bank of New York Mellon Corp raised its stake in Preformed Line Products by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 29,719 shares of the technology company’s stock worth $1,885,000 after buying an additional 509 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Preformed Line Products by 100.2% in the 1st quarter. Acadian Asset Management LLC now owns 4,134 shares of the technology company’s stock worth $261,000 after acquiring an additional 2,069 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Preformed Line Products in the 1st quarter valued at approximately $623,000. Lazard Asset Management LLC bought a new stake in shares of Preformed Line Products during the first quarter valued at approximately $80,000. Finally, State Street Corp grew its stake in Preformed Line Products by 6.8% in the first quarter. State Street Corp now owns 55,709 shares of the technology company’s stock worth $3,533,000 after purchasing an additional 3,567 shares during the period. 41.19% of the stock is currently owned by institutional investors.

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.