Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume – What’s Next?

Shares of Preformed Line Products (NASDAQ:PLPC) saw unusually-high trading volume on Wednesday . Approximately 21,571 shares were traded during trading, a decline of 16% from the previous session’s volume of 25,648 shares.The stock last traded at $123.90 and had previously closed at $124.91.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Preformed Line Products Stock Performance

The firm’s 50-day moving average price is $134.08 and its 200-day moving average price is $129.14. The stock has a market cap of $600.47 million, a P/E ratio of 18.30 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56.

Institutional Investors Weigh In On Preformed Line Products

Several hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC purchased a new stake in shares of Preformed Line Products during the third quarter worth approximately $103,000. SG Americas Securities LLC lifted its stake in 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 purchasing an additional 122 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Preformed Line Products by 28.7% during the 4th 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 increased its stake in Preformed Line Products by 13.1% during the 3rd 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 during the period. Finally, Quest Partners LLC boosted its holdings 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 during the period. Hedge funds and other institutional investors 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.