Preformed Line Products (NASDAQ:PLPC) Sees Unusually-High Trading Volume - Here's What Happened

Shares of Preformed Line Products (NASDAQ:PLPC - Get Free Report) saw an uptick in trading volume on Wednesday . 21,571 shares traded hands during mid-day 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Preformed Line Products from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th.

Preformed Line Products Trading Down 2.5 %

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 firm has a market cap of $590.31 million, a P/E ratio of 18.10 and a beta of 0.61. The company's 50 day simple moving average is $133.73 and its 200-day simple moving average is $129.24.

Institutional Trading of Preformed Line Products

Institutional investors and hedge funds have recently modified their holdings of the stock. Truvestments Capital LLC bought a new stake in shares of Preformed Line Products during the third quarter valued at approximately $103,000. SG Americas Securities LLC increased its holdings 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 valued at $135,000 after buying an additional 122 shares during the period. Wells Fargo & Company MN increased its holdings in Preformed Line Products by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock valued at $180,000 after buying an additional 314 shares during the period. BNP Paribas Financial Markets increased its holdings in Preformed Line Products by 13.1% during the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company's stock valued at $304,000 after buying an additional 274 shares during the period. Finally, Quest Partners LLC increased its holdings in Preformed Line Products by 62.4% during the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company's stock valued at $327,000 after buying an additional 981 shares during the period. Institutional investors own 41.19% of the company's stock.

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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.