Preformed Line Products (NASDAQ:PLPC) Short Interest Update

Preformed Line Products (NASDAQ:PLPC) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 36,400 shares, an increase of 64.7% from the January 15th total of 22,100 shares. Based on an average daily trading volume, of 19,900 shares, the short-interest ratio is currently 1.8 days. Approximately 1.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

Hedge Funds Weigh In On Preformed Line Products

Hedge funds have recently made changes to their positions in the stock. Royce & Associates LP increased its stake in Preformed Line Products by 3.1% during the fourth quarter. Royce & Associates LP now owns 314,094 shares of the technology company’s stock worth $40,138,000 after acquiring an additional 9,458 shares during the last quarter. Geode Capital Management LLC lifted its position in Preformed Line Products by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 64,704 shares of the technology company’s stock valued at $8,271,000 after buying an additional 381 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Preformed Line Products by 2.6% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 59,803 shares of the technology company’s stock valued at $7,642,000 after acquiring an additional 1,542 shares during the period. American Century Companies Inc. lifted its holdings in shares of 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 acquiring an additional 30,245 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Preformed Line Products by 0.4% during the 4th quarter. Invesco Ltd. now owns 41,204 shares of the technology company’s stock worth $5,265,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Trading Down 1.5 %

Shares of PLPC stock traded down $2.21 during mid-day trading on Friday, hitting $140.73. 14,720 shares of the company’s stock were exchanged, compared to its average volume of 37,000. The stock has a market cap of $689.58 million, a price-to-earnings ratio of 21.13 and a beta of 0.63. The stock has a 50-day simple moving average of $133.13 and a two-hundred day simple moving average of $128.05. Preformed Line Products has a fifty-two week low of $109.01 and a fifty-two week high of $154.90. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

Preformed Line Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is 12.01%.

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.