Preformed Line Products (NASDAQ:PLPC) Stock Price Down 5.2% – Here’s What Happened

Preformed Line Products (NASDAQ:PLPC)’s share price dropped 5.2% during mid-day trading on Friday . The company traded as low as $141.07 and last traded at $140.77. Approximately 22,437 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 15,980 shares. The stock had previously closed at $148.54.

Analyst Upgrades and Downgrades

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

Preformed Line Products Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The stock has a 50-day simple moving average of $135.52 and a 200-day simple moving average of $130.20. The stock has a market cap of $701.18 million, a P/E ratio of 21.14 and a beta of 0.62.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share for the quarter. The company 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. Preformed Line Products’s dividend payout ratio (DPR) is currently 10.67%.

Institutional Trading of Preformed Line Products

Several hedge funds and other institutional investors have recently made changes to their positions in PLPC. Truvestments Capital LLC bought a new stake in shares of Preformed Line Products during the third quarter worth about $103,000. SG Americas Securities LLC boosted its holdings in Preformed Line Products by 13.1% in the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock valued at $135,000 after acquiring an additional 122 shares during the last quarter. Wells Fargo & Company MN lifted its stake 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 valued at $180,000 after buying an additional 314 shares during the period. BNP Paribas Financial Markets lifted its stake in Preformed Line Products by 13.1% in the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock valued at $304,000 after buying an additional 274 shares during the period. Finally, Quest Partners LLC lifted its stake in Preformed Line Products by 62.4% in the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after buying an additional 981 shares during the period. 41.19% of the stock is currently owned by 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.