Short Interest in Preformed Line Products (NASDAQ:PLPC) Expands By 23.9%

Preformed Line Products (NASDAQ:PLPC) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 35,200 shares, an increase of 23.9% from the May 31st total of 28,400 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average trading volume of 14,900 shares, the short-interest ratio is presently 2.4 days.

Preformed Line Products Trading Up 0.7 %

PLPC stock traded up $0.79 during midday trading on Tuesday, hitting $122.29. The stock had a trading volume of 3,567 shares, compared to its average volume of 15,889. The company’s 50-day moving average price is $128.61 and its 200 day moving average price is $128.39. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.15 and a quick ratio of 1.73. The firm has a market cap of $601.67 million, a PE ratio of 11.75 and a beta of 0.65. Preformed Line Products has a 12-month low of $104.96 and a 12-month high of $184.82.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.94 EPS for the quarter. Preformed Line Products had a return on equity of 12.67% and a net margin of 8.20%. The business had revenue of $140.90 million during the quarter.

Preformed Line Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Monday, July 1st will be given a $0.20 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.65%. Preformed Line Products’s dividend payout ratio is presently 7.74%.

Hedge Funds Weigh In On Preformed Line Products

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Preformed Line Products by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 367,708 shares of the technology company’s stock worth $49,222,000 after purchasing an additional 5,913 shares during the period. Vanguard Group Inc. lifted its position in Preformed Line Products by 5.0% during the first quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock valued at $9,398,000 after buying an additional 3,489 shares in the last quarter. Invesco Ltd. grew its stake in Preformed Line Products by 215.5% during the third quarter. Invesco Ltd. now owns 68,311 shares of the technology company’s stock worth $11,106,000 after buying an additional 46,656 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Preformed Line Products by 84.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,294 shares of the technology company’s stock worth $5,088,000 after acquiring an additional 14,363 shares in the last quarter. Finally, CM Management LLC raised its stake in shares of Preformed Line Products by 48.6% in the 1st quarter. CM Management LLC now owns 26,000 shares of the technology company’s stock valued at $3,345,000 after acquiring an additional 8,500 shares during the period. Institutional investors and hedge funds own 41.19% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th.

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.