StockNews.com downgraded shares of Preformed Line Products (NASDAQ:PLPC - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.
Preformed Line Products Price Performance
Shares of Preformed Line Products stock traded down $0.29 during midday trading on Tuesday, hitting $130.28. 18,117 shares of the company were exchanged, compared to its average volume of 26,164. 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 firm has a market cap of $638.11 million, a P/E ratio of 19.56 and a beta of 0.63. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $154.90. The firm has a 50 day simple moving average of $134.19 and a 200-day simple moving average of $128.92.
Preformed Line Products Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $0.80 annualized dividend and a yield of 0.61%. Preformed Line Products's payout ratio is 12.01%.
Hedge Funds Weigh In On Preformed Line Products
Several institutional investors have recently bought and sold shares of the business. Martingale Asset Management L P raised its position in Preformed Line Products by 0.9% in the 4th quarter. Martingale Asset Management L P now owns 9,131 shares of the technology company's stock valued at $1,167,000 after purchasing an additional 80 shares during the last quarter. Private Advisor Group LLC raised its position in Preformed Line Products by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company's stock valued at $365,000 after purchasing an additional 100 shares during the last quarter. SG Americas Securities LLC raised its position in Preformed Line Products by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company's stock valued at $135,000 after purchasing an additional 122 shares during the last quarter. Invesco Ltd. raised its position in shares of Preformed Line Products by 0.4% during the fourth quarter. Invesco Ltd. now owns 41,204 shares of the technology company's stock worth $5,265,000 after acquiring an additional 172 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Preformed Line Products by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,760 shares of the technology company's stock worth $4,186,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 41.19% of the company's stock.
About Preformed Line Products
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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.
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