Preformed Line Products (NASDAQ:PLPC) Sees Large Volume Increase After Dividend Announcement

Preformed Line Products Company (NASDAQ:PLPCGet Free Report) saw strong trading volume on Monday following a dividend announcement from the company. 35,170 shares traded hands during trading, an increase of 31% from the previous session’s volume of 26,805 shares.The stock last traded at $153.37 and had previously closed at $153.54.

The newly announced dividend which will be paid on Sunday, July 20th. Investors of record on Tuesday, July 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.80 annualized dividend and a yield of 0.52%. Preformed Line Products’s dividend payout ratio is presently 10.14%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th.

Get Our Latest Research Report on PLPC

Preformed Line Products Price Performance

The company’s fifty day moving average price is $142.36 and its 200 day moving average price is $137.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.81 and a current ratio of 3.08. The firm has a market capitalization of $761.95 million, a price-to-earnings ratio of 19.55 and a beta of 0.75.

Preformed Line Products (NASDAQ:PLPCGet Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $2.33 EPS for the quarter. Preformed Line Products had a net margin of 6.49% and a return on equity of 9.16%. The business had revenue of $148.54 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PLPC. Wells Fargo & Company MN boosted its holdings in shares of Preformed Line Products by 28.7% in the 4th 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. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Preformed Line Products in the 1st quarter worth about $308,000. Private Advisor Group LLC increased its holdings 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 worth $365,000 after acquiring an additional 100 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Preformed Line Products by 121.1% in the 1st quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company’s stock worth $409,000 after acquiring an additional 1,600 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Preformed Line Products by 30,720.0% in the 1st quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company’s stock worth $432,000 after acquiring an additional 3,072 shares during the period. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Company Profile

(Get Free Report)

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.

Further Reading

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