Preformed Line Products (NASDAQ:PLPC) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 19,700 shares, a decrease of 39.2% from the May 30th total of 32,400 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 10,800 shares, the days-to-cover ratio is presently 1.8 days.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Preformed Line Products by 2.2% in the fourth quarter. BlackRock Inc. now owns 161,937 shares of the technology company’s stock worth $8,785,000 after buying an additional 3,503 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its stake in shares of Preformed Line Products by 7.7% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 85,924 shares of the technology company’s stock worth $4,562,000 after buying an additional 6,175 shares in the last quarter. Alambic Investment Management L.P. lifted its stake in shares of Preformed Line Products by 51.0% in the first quarter. Alambic Investment Management L.P. now owns 19,306 shares of the technology company’s stock worth $1,025,000 after buying an additional 6,518 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Preformed Line Products by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 53,354 shares of the technology company’s stock worth $2,894,000 after buying an additional 6,425 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Preformed Line Products in the first quarter worth approximately $112,000. Hedge funds and other institutional investors own 44.80% of the company’s stock.

A number of equities research analysts have weighed in on PLPC shares. TheStreet cut shares of Zumiez from a “b” rating to a “c+” rating in a report on Thursday, June 6th. BidaskClub upgraded shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd.

PLPC traded up $0.92 during midday trading on Friday, reaching $56.45. The company’s stock had a trading volume of 4,970 shares, compared to its average volume of 7,315. The company has a market capitalization of $280.89 million, a price-to-earnings ratio of 12.42 and a beta of 1.45. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.11 and a quick ratio of 1.88. Preformed Line Products has a 1 year low of $45.12 and a 1 year high of $89.70. The company’s 50-day simple moving average is $51.92.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Friday, May 3rd. The technology company reported $0.36 earnings per share for the quarter. The business had revenue of $97.15 million for the quarter. Preformed Line Products had a net margin of 5.45% and a return on equity of 9.29%.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Monday, July 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, June 28th.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.

Further Reading: Why is the ex-dividend date different from the record date?

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