Preformed Line Products (NASDAQ:PLPC) Trading Down 5.2% – Time to Sell?

Shares of Preformed Line Products (NASDAQ:PLPC) traded down 5.2% during trading on Friday . The company traded as low as $141.07 and last traded at $140.77. 22,437 shares were traded during mid-day trading, an increase of 40% from the average session volume of 15,980 shares. The stock had previously closed at $148.54.

Analyst Ratings Changes

Separately, StockNews.com raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th.

Preformed Line Products Stock Down 4.5 %

The stock has a 50 day simple moving average of $135.89 and a 200 day simple moving average of $130.46. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The stock has a market cap of $700.93 million, a price-to-earnings ratio of 21.30 and a beta of 0.62.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%. The company had revenue of $167.12 million for the quarter.

Preformed Line Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.56%. Preformed Line Products’s dividend payout ratio is currently 10.67%.

Hedge Funds Weigh In On Preformed Line Products

Institutional investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Preformed Line Products in the fourth quarter worth $1,712,000. Pullen Investment Management LLC bought a new stake in shares of Preformed Line Products during the 4th quarter worth $605,000. Janus Henderson Group PLC raised its stake in shares of Preformed Line Products by 13.9% during the 4th quarter. Janus Henderson Group PLC now owns 8,983 shares of the technology company’s stock worth $1,149,000 after purchasing an additional 1,098 shares during the period. Northern Trust Corp boosted its holdings in shares of Preformed Line Products by 1.2% in the 4th quarter. Northern Trust Corp now owns 35,732 shares of the technology company’s stock worth $4,566,000 after buying an additional 429 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Preformed Line Products by 12.4% during the fourth quarter. First Trust Advisors LP now owns 22,481 shares of the technology company’s stock valued at $2,873,000 after buying an additional 2,480 shares during the period. 41.19% of the stock is owned by institutional investors.

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.