Preformed Line Products (NASDAQ:PLPC) Short Interest Update

Preformed Line Products (NASDAQ:PLPC - Get Free Report) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 14,900 shares, a decrease of 23.6% from the November 30th total of 19,500 shares. Based on an average daily volume of 10,600 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.5% of the shares of the stock are sold short.

Preformed Line Products Trading Down 2.1 %

Shares of PLPC traded down $2.76 during mid-day trading on Friday, reaching $126.97. The company's stock had a trading volume of 8,229 shares, compared to its average volume of 14,507. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $145.28. The company's fifty day moving average price is $131.82 and its two-hundred day moving average price is $125.80. The stock has a market cap of $621.90 million, a PE ratio of 19.06 and a beta of 0.60.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted 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 business had revenue of $146.97 million during the quarter.

Preformed Line Products Dividend Announcement

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

Hedge Funds Weigh In On Preformed Line Products

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Preformed Line Products by 3.7% in the second 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 last quarter. Allspring Global Investments Holdings LLC bought a new stake in Preformed Line Products in the 2nd quarter worth $52,000. Innealta Capital LLC purchased a new position in shares of Preformed Line Products in the second quarter valued at about $27,000. Rhumbline Advisers raised its stake in shares of Preformed Line Products by 2.3% during the second quarter. Rhumbline Advisers now owns 3,861 shares of the technology company's stock valued at $481,000 after acquiring an additional 86 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Preformed Line Products by 50.0% during the second quarter. Los Angeles Capital Management LLC now owns 6,090 shares of the technology company's stock valued at $758,000 after acquiring an additional 2,030 shares during the last quarter. 41.19% of the stock is owned by hedge funds and other institutional investors.

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.

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.