Preformed Line Products (NASDAQ:PLPC) President Jon Ryan Ruhlman Sells 2,000 Shares

Preformed Line Products (NASDAQ:PLPC - Get Free Report) President Jon Ryan Ruhlman sold 2,000 shares of the company's stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $168.78, for a total value of $337,560.00. Following the sale, the president now directly owns 5,340 shares of the company's stock, valued at approximately $901,285.20. This represents a 27.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Preformed Line Products Stock Performance

PLPC traded down $2.10 on Monday, hitting $126.80. 6,664 shares of the company traded hands, compared to its average volume of 6,888. The company has a 50 day moving average of $132.23 and a 200-day moving average of $125.59. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $621.07 million, a PE ratio of 19.04 and a beta of 0.63. Preformed Line Products has a 12-month low of $109.01 and a 12-month high of $145.28.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $1.54 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 company had revenue of $146.97 million for the quarter.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.63%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products's payout ratio is 12.01%.

Analysts Set New Price Targets

Separately, StockNews.com raised Preformed Line Products from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 19th.

Hedge Funds Weigh In On Preformed Line Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLPC. Bank of New York Mellon Corp increased its position in Preformed Line Products by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company's stock worth $3,411,000 after purchasing an additional 984 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Preformed Line Products in the 2nd quarter worth approximately $52,000. Rhumbline Advisers grew its holdings in shares of Preformed Line Products by 2.3% in the 2nd quarter. Rhumbline Advisers now owns 3,861 shares of the technology company's stock worth $481,000 after acquiring an additional 86 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Preformed Line Products by 50.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 6,090 shares of the technology company's stock worth $758,000 after acquiring an additional 2,030 shares during the period. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of Preformed Line Products in the 2nd quarter worth approximately $447,000. 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.