BidaskClub cut shares of Preformed Line Products (NASDAQ:PLPC) from a sell rating to a strong sell rating in a report published on Tuesday.

Separately, ValuEngine raised Preformed Line Products from a hold rating to a buy rating in a report on Thursday, December 20th.

NASDAQ PLPC opened at $52.88 on Tuesday. The stock has a market capitalization of $271.72 million, a P/E ratio of 10.26 and a beta of 1.26. Preformed Line Products has a twelve month low of $49.40 and a twelve month high of $96.83. The company has a quick ratio of 1.90, a current ratio of 3.08 and a debt-to-equity ratio of 0.10.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLPC. California Public Employees Retirement System raised its holdings in Preformed Line Products by 17.8% in the 2nd quarter. California Public Employees Retirement System now owns 5,890 shares of the technology company’s stock worth $523,000 after purchasing an additional 890 shares during the period. First Trust Advisors LP purchased a new stake in Preformed Line Products during the 3rd quarter worth approximately $290,000. O Shaughnessy Asset Management LLC increased its stake in Preformed Line Products by 37.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 5,659 shares of the technology company’s stock worth $397,000 after buying an additional 1,549 shares in the last quarter. LSV Asset Management increased its stake in Preformed Line Products by 7.3% during the 3rd quarter. LSV Asset Management now owns 75,202 shares of the technology company’s stock worth $5,285,000 after buying an additional 5,100 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Preformed Line Products by 6.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 27,231 shares of the technology company’s stock worth $1,914,000 after buying an additional 1,617 shares in the last quarter. 44.51% of the stock is owned by institutional investors.

About Preformed Line Products

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.

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