Preformed Line Products (NASDAQ:PLPC) Downgraded by StockNews.com to “Buy”

Preformed Line Products (NASDAQ:PLPC) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Preformed Line Products Stock Up 1.6 %

Shares of PLPC stock traded up $2.06 during trading hours on Tuesday, reaching $133.71. 13,332 shares of the stock were exchanged, compared to its average volume of 26,812. The firm has a market capitalization of $654.91 million, a P/E ratio of 20.08 and a beta of 0.63. Preformed Line Products has a 12-month low of $109.01 and a 12-month high of $154.90. 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 business’s fifty day moving average is $133.77 and its two-hundred day moving average is $128.62.

Hedge Funds Weigh In On Preformed Line Products

Hedge funds have recently added to or reduced their stakes in the stock. Truvestments Capital LLC purchased a new position in Preformed Line Products in the third quarter valued at approximately $103,000. SG Americas Securities LLC boosted its holdings in shares of 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 period. Wells Fargo & Company MN boosted its holdings in shares of 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 acquiring an additional 314 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of 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 acquiring an additional 274 shares during the period. Finally, Quest Partners LLC boosted its holdings in shares of 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 acquiring an additional 981 shares during the period. 41.19% of the stock is currently 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.