Preformed Line Products (NASDAQ:PLPC) Sees Large Volume Increase - Here's Why

Preformed Line Products (NASDAQ:PLPC - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 24,725 shares changed hands during trading, an increase of 78% from the previous session's volume of 13,885 shares.The stock last traded at $143.29 and had previously closed at $144.83.

Wall Street Analyst Weigh In

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

Preformed Line Products Trading Up 2.5 %

The company's fifty day simple moving average is $131.90 and its 200-day simple moving average is $126.98. The firm has a market capitalization of $737.16 million, a PE ratio of 22.59 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.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%. The firm had revenue of $146.97 million for the quarter.

Preformed Line Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th were issued a $0.20 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. Preformed Line Products's payout ratio is currently 12.01%.

Institutional Investors Weigh In On Preformed Line Products

A number of large investors have recently modified their holdings of PLPC. Allspring Global Investments Holdings LLC acquired a new position in Preformed Line Products during the fourth quarter worth about $771,000. FMR LLC lifted its stake in Preformed Line Products by 27.7% in the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company's stock worth $3,214,000 after purchasing an additional 5,442 shares in the last quarter. Ingalls & Snyder LLC acquired a new position in shares of Preformed Line Products during the 3rd quarter worth approximately $521,000. JPMorgan Chase & Co. grew its position in shares of Preformed Line Products by 93.3% in the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company's stock valued at $1,040,000 after purchasing an additional 3,919 shares in the last quarter. Finally, Ausbil Investment Management Ltd increased its holdings in shares of Preformed Line Products by 222.8% in the fourth quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company's stock valued at $701,000 after purchasing an additional 3,752 shares during the last quarter. 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.