Preformed Line Products (NASDAQ:PLPC) Shares Gap Down to $133.68

Preformed Line Products (NASDAQ:PLPC)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $133.68, but opened at $130.00. Preformed Line Products shares last traded at $130.00, with a volume of 2,691 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th.

Preformed Line Products Stock Down 2.2 %

The business has a fifty day moving average price of $127.09 and a two-hundred day moving average price of $127.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.15 and a quick ratio of 1.73. The firm has a market capitalization of $643.29 million, a price-to-earnings ratio of 12.65 and a beta of 0.65.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Wednesday, May 1st. The technology company reported $1.94 EPS for the quarter. Preformed Line Products had a return on equity of 12.67% and a net margin of 8.20%. The firm had revenue of $140.90 million for the quarter.

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 1st were paid a $0.20 dividend. The ex-dividend date was Monday, July 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.61%. Preformed Line Products’s payout ratio is 7.74%.

Institutional Trading of Preformed Line Products

A number of hedge funds have recently modified their holdings of PLPC. SG Americas Securities LLC boosted its stake in shares of Preformed Line Products by 21.1% in the fourth quarter. SG Americas Securities LLC now owns 1,050 shares of the technology company’s stock worth $141,000 after buying an additional 183 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Preformed Line Products by 24.9% in the fourth quarter. Private Trust Co. NA now owns 3,005 shares of the technology company’s stock worth $402,000 after buying an additional 600 shares during the last quarter. New York State Teachers Retirement System boosted its position in Preformed Line Products by 123.0% during the fourth 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 in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Preformed Line Products during the fourth quarter worth approximately $34,000. Finally, Carnegie Capital Asset Management LLC boosted its position in Preformed Line Products by 9.7% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 7,743 shares of the technology company’s stock worth $1,036,000 after purchasing an additional 685 shares in the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

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.