Preformed Line Products (NASDAQ:PLPC) Stock Price Down 5.1% – Time to Sell?

Preformed Line Products Company (NASDAQ:PLPC)’s share price dropped 5.1% during trading on Tuesday . The stock traded as low as $212.86 and last traded at $214.0150. Approximately 8,394 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 82,417 shares. The stock had previously closed at $225.41.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen lowered 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 note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Preformed Line Products Price Performance

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 stock has a fifty day simple moving average of $211.80 and a two-hundred day simple moving average of $192.86. The company has a market cap of $1.09 billion, a PE ratio of 29.48 and a beta of 0.78.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Wednesday, October 29th. The technology company reported $2.09 earnings per share for the quarter. Preformed Line Products had a return on equity of 10.09% and a net margin of 5.62%.The firm had revenue of $178.09 million for the quarter.

Preformed Line Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Investors of record on Monday, January 5th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. This is a positive change from Preformed Line Products’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, January 5th. Preformed Line Products’s dividend payout ratio (DPR) is 11.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PLPC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Preformed Line Products by 1.3% during the 3rd 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 in the last quarter. Vanguard Group Inc. increased its position in shares of Preformed Line Products by 4.8% in the third quarter. Vanguard Group Inc. now owns 162,173 shares of the technology company’s stock valued at $31,810,000 after buying an additional 7,426 shares in the last quarter. American Century Companies Inc. boosted its position 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 buying an additional 9,637 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of Preformed Line Products by 1.2% in the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC grew its stake in Preformed Line Products by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 66,667 shares of the technology company’s stock valued at $10,656,000 after acquiring an additional 317 shares during the last quarter. 41.19% of the stock is owned by hedge funds and other institutional investors.

Preformed Line Products Company Profile

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.