Preformed Line Products (NASDAQ:PLPC) Shares Gap Up to $125.48

Preformed Line Products (NASDAQ:PLPC) shares gapped up prior to trading on Thursday . The stock had previously closed at $125.48, but opened at $129.83. Preformed Line Products shares last traded at $129.28, with a volume of 2,110 shares trading hands.

Analysts Set New Price Targets

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

Preformed Line Products Stock Performance

The firm has a market cap of $657.71 million, a P/E ratio of 12.93 and a beta of 0.64. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.73 and a current ratio of 3.15. The business’s 50-day simple moving average is $127.09 and its 200 day simple moving average is $127.30.

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

Preformed Line Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Monday, July 1st. Preformed Line Products’s dividend payout ratio is presently 7.74%.

Institutional Trading of Preformed Line Products

Several hedge funds have recently bought and sold shares of PLPC. New York State Teachers Retirement System increased its stake in shares of Preformed Line Products by 123.0% in the fourth quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock worth $30,000 after purchasing an additional 123 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Preformed Line Products in the 4th quarter worth $34,000. Tower Research Capital LLC TRC increased its stake in Preformed Line Products by 243.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 282 shares of the technology company’s stock worth $38,000 after buying an additional 200 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Preformed Line Products in the second quarter valued at about $52,000. Finally, Mather Group LLC. bought a new position in shares of Preformed Line Products in the second quarter worth about $64,000. Institutional investors own 41.19% of the company’s stock.

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.