Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume – Here’s What Happened

Preformed Line Products Company (NASDAQ:PLPC) saw strong trading volume on Wednesday . 138,658 shares changed hands during mid-day trading, an increase of 36% from the previous session’s volume of 102,274 shares.The stock last traded at $268.43 and had previously closed at $260.07.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLPC. Wall Street Zen cut shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Preformed Line Products in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

Preformed Line Products Trading Down 6.9%

The firm has a 50 day simple moving average of $227.94 and a 200 day simple moving average of $205.24. The company has a current ratio of 3.09, a quick ratio of 1.84 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.23 billion, a PE ratio of 33.06 and a beta of 0.77.

Preformed Line Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, January 5th. This is a boost from Preformed Line Products’s previous quarterly dividend of $0.20. Preformed Line Products’s payout ratio is 11.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Preformed Line Products by 1.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,511 shares of the technology company’s stock worth $42,665,000 after acquiring an additional 2,768 shares during the period. Vanguard Group Inc. boosted its position in Preformed Line Products by 4.8% in the third quarter. Vanguard Group Inc. now owns 162,173 shares of the technology company’s stock worth $31,810,000 after purchasing an additional 7,426 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Preformed Line Products by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock worth $13,068,000 after purchasing an additional 9,637 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Preformed Line Products by 1.2% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 79,731 shares of the technology company’s stock worth $15,639,000 after buying an additional 913 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Preformed Line Products by 0.5% during the second quarter. Geode Capital Management LLC now owns 66,667 shares of the technology company’s stock valued at $10,656,000 after buying an additional 317 shares during the last quarter. Institutional investors own 41.19% of the company’s stock.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.