Preformed Line Products (NASDAQ:PLPC) Stock Price Down 1.9%

Shares of Preformed Line Products (NASDAQ:PLPC) were down 1.9% during mid-day trading on Tuesday . The company traded as low as $123.00 and last traded at $123.00. Approximately 573 shares traded hands during trading, a decline of 97% from the average daily volume of 16,464 shares. The stock had previously closed at $125.44.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 8th.

Preformed Line Products Trading Up 3.1 %

The firm has a market capitalization of $617.73 million, a PE ratio of 9.88 and a beta of 0.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.92 and a quick ratio of 1.58. The company has a fifty day moving average of $128.45 and a 200-day moving average of $134.75.

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Tuesday, April 2nd will be issued a $0.20 dividend. The ex-dividend date is Monday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.64%. Preformed Line Products’s dividend payout ratio is currently 6.31%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System increased its holdings in shares of Preformed Line Products by 123.0% during the 4th quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock worth $30,000 after purchasing an additional 123 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Preformed Line Products during the fourth quarter worth about $34,000. Tower Research Capital LLC TRC increased its stake in Preformed Line Products by 243.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 282 shares of the technology company’s stock valued at $38,000 after acquiring an additional 200 shares during the period. Point72 Middle East FZE acquired a new position in Preformed Line Products in the 2nd quarter valued at approximately $38,000. Finally, Quest Partners LLC bought a new stake in shares of Preformed Line Products in the 4th quarter worth approximately $75,000. 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.