Preformed Line Products (NASDAQ:PLPC) Shares Gap Down – Here’s What Happened

Shares of Preformed Line Products (NASDAQ:PLPC) gapped down before the market opened on Thursday . The stock had previously closed at $136.60, but opened at $132.00. Preformed Line Products shares last traded at $135.30, with a volume of 1,792 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 19th.

Preformed Line Products Trading Up 1.0 %

The business’s 50 day moving average price is $129.99 and its two-hundred day moving average price is $125.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The company has a market capitalization of $668.90 million, a price-to-earnings ratio of 20.50 and a beta of 0.60.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. The firm had revenue of $146.97 million during the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Tuesday, October 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 annualized dividend and a yield of 0.59%. Preformed Line Products’s dividend payout ratio is currently 12.01%.

Institutional Investors Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently bought and sold shares of PLPC. Apis Capital Advisors LLC acquired a new position in shares of Preformed Line Products in the 2nd quarter worth approximately $573,000. Easterly Investment Partners LLC acquired a new position in Preformed Line Products in the second quarter worth approximately $1,658,000. Ingalls & Snyder LLC bought a new position in shares of Preformed Line Products in the third quarter valued at $521,000. American Century Companies Inc. increased its holdings in shares of Preformed Line Products by 82.4% in the second quarter. American Century Companies Inc. now owns 4,822 shares of the technology company’s stock valued at $601,000 after buying an additional 2,179 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Preformed Line Products by 50.0% during the 2nd 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 institutional investors and hedge funds.

Preformed Line Products Company Profile

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.