Preformed Line Products (NASDAQ:PLPC) Shares Gap Down – Time to Sell?

Shares of Preformed Line Products (NASDAQ:PLPC) gapped down prior to trading on Friday . The stock had previously closed at $137.14, but opened at $130.00. Preformed Line Products shares last traded at $134.61, with a volume of 2,076 shares traded.

Analyst Ratings Changes

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

Preformed Line Products Trading Up 0.2 %

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 moving average price of $136.67 and a two-hundred day moving average price of $134.41. The stock has a market cap of $678.70 million, a PE ratio of 20.62 and a beta of 0.75.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share for the quarter. The business had revenue of $148.54 million during 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 firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Tuesday, April 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Tuesday, April 1st. Preformed Line Products’s payout ratio is 10.14%.

Hedge Funds Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently made changes to their positions in PLPC. Martingale Asset Management L P lifted its holdings in shares of Preformed Line Products by 0.9% in the 4th quarter. Martingale Asset Management L P now owns 9,131 shares of the technology company’s stock valued at $1,167,000 after acquiring an additional 80 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Preformed Line Products by 1.5% during the first quarter. SummerHaven Investment Management LLC now owns 6,574 shares of the technology company’s stock valued at $921,000 after purchasing an additional 95 shares during the period. Private Advisor Group LLC lifted its stake in shares of Preformed Line Products by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company’s stock valued at $365,000 after purchasing an additional 100 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Preformed Line Products by 13.1% in the 4th 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, Invesco Ltd. increased its position in shares of Preformed Line Products by 0.4% during the 4th quarter. Invesco Ltd. now owns 41,204 shares of the technology company’s stock valued at $5,265,000 after purchasing an additional 172 shares during the last quarter. 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.