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

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

Wall Street Analyst Weigh In

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

Preformed Line Products Stock Down 4.5 %

The firm has a fifty day simple moving average of $135.52 and a 200-day simple moving average of $130.20. The firm has a market cap of $701.18 million, a price-to-earnings ratio of 21.14 and a beta of 0.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%. The business had revenue of $167.12 million during the quarter.

Preformed Line Products Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.56%. Preformed Line Products’s dividend payout ratio is currently 10.67%.

Institutional Investors Weigh In On Preformed Line Products

Hedge funds and other institutional investors have recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of Preformed Line Products during the third quarter worth $103,000. SG Americas Securities LLC lifted its holdings in shares of Preformed Line Products by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock worth $135,000 after buying an additional 122 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Preformed Line Products by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock worth $180,000 after buying an additional 314 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Preformed Line Products by 13.1% during the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock worth $304,000 after buying an additional 274 shares in the last quarter. Finally, Quest Partners LLC raised 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 purchasing an additional 981 shares in the last quarter. 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.