Insider Selling: Preformed Line Products (NASDAQ:PLPC) President Sells 2,000 Shares of Stock

Preformed Line Products (NASDAQ:PLPC) President Jon Ryan Ruhlman sold 2,000 shares of Preformed Line Products stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $168.78, for a total transaction of $337,560.00. Following the completion of the transaction, the president now directly owns 5,340 shares in the company, valued at approximately $901,285.20. The trade was a 27.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Preformed Line Products Stock Performance

Shares of PLPC traded down $2.10 during trading hours on Monday, hitting $126.80. The stock had a trading volume of 6,664 shares, compared to its average volume of 6,847. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The firm has a 50-day moving average price of $132.22 and a 200 day moving average price of $125.64. Preformed Line Products has a fifty-two week low of $109.01 and a fifty-two week high of $145.28. The firm has a market capitalization of $621.07 million, a price-to-earnings ratio of 19.04 and a beta of 0.63.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. The company had revenue of $146.97 million during the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.63%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products’s payout ratio is 12.01%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Preformed Line Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLPC. FMR LLC lifted its stake in shares of Preformed Line Products by 27.7% in the third quarter. FMR LLC now owns 25,091 shares of the technology company’s stock worth $3,214,000 after buying an additional 5,442 shares in the last quarter. Apis Capital Advisors LLC purchased a new position in shares of Preformed Line Products in the second quarter worth about $573,000. Ingalls & Snyder LLC purchased a new position in shares of Preformed Line Products in the third quarter worth about $521,000. JPMorgan Chase & Co. lifted its stake 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 buying an additional 3,919 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new position in shares of Preformed Line Products in the second quarter worth about $447,000. 41.19% of the stock is owned by hedge funds and other institutional investors.

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.