Preformed Line Products (NASDAQ:PLPC) Sees Large Volume Increase – Should You Buy?

Preformed Line Products (NASDAQ:PLPC) shares saw unusually-strong trading volume on Monday . Approximately 25,016 shares were traded during trading, an increase of 40% from the previous session’s volume of 17,901 shares.The stock last traded at $135.68 and had previously closed at $140.35.

Wall Street Analysts Forecast Growth

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

Preformed Line Products Price Performance

The stock has a market capitalization of $664.81 million, a P/E ratio of 20.20 and a beta of 0.65. 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 company has a fifty day simple moving average of $136.92 and a two-hundred day simple moving average of $133.46.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share (EPS) for the quarter. The business had revenue of $167.12 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 declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, April 1st. Preformed Line Products’s dividend payout ratio is currently 10.67%.

Institutional Trading of Preformed Line Products

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its holdings in shares of Preformed Line Products by 135.6% in the third quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock valued at $638,000 after purchasing an additional 2,871 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Preformed Line Products by 21.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company’s stock worth $389,000 after purchasing an additional 556 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Preformed Line Products by 93.3% in the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock worth $1,040,000 after purchasing an additional 3,919 shares during the period. SG Americas Securities LLC lifted its position in Preformed Line Products by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock worth $135,000 after purchasing an additional 122 shares during the period. Finally, Ausbil Investment Management Ltd grew its stake in Preformed Line Products by 222.8% during the fourth quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company’s stock worth $701,000 after buying an additional 3,752 shares in the last quarter. Institutional investors and hedge funds 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.