Preformed Line Products (NASDAQ:PLPC) Sees Strong Trading Volume – Time to Buy?

Shares of Preformed Line Products (NASDAQ:PLPC) saw unusually-strong trading volume on Tuesday . Approximately 24,725 shares traded hands during mid-day trading, an increase of 78% from the previous session’s volume of 13,885 shares.The stock last traded at $143.29 and had previously closed at $144.83.

Wall Street Analysts Forecast Growth

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

Preformed Line Products Stock Performance

The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The company has a market cap of $701.29 million, a P/E ratio of 21.49 and a beta of 0.63. The company has a 50 day moving average price of $131.25 and a 200-day moving average price of $126.52.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share (EPS) for the quarter. The firm had revenue of $146.97 million for 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 declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, January 7th. Preformed Line Products’s payout ratio is 12.01%.

Institutional Investors Weigh In On Preformed Line Products

A number of hedge funds and other institutional investors have recently bought and sold shares of PLPC. Truvestments Capital LLC acquired a new stake in shares of Preformed Line Products during the third quarter valued at about $103,000. SG Americas Securities LLC acquired a new stake in Preformed Line Products during the 3rd quarter worth approximately $119,000. BNP Paribas Financial Markets grew its holdings in Preformed Line Products by 13.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock worth $304,000 after acquiring an additional 274 shares during the last quarter. Quest Partners LLC increased its position in Preformed Line Products by 62.4% in the 3rd quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after acquiring an additional 981 shares during the period. Finally, Summit Global Investments bought a new position in shares of Preformed Line Products during the third quarter valued at $345,000. Institutional investors own 41.19% of the company’s stock.

About Preformed Line Products

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.