Separately, BidaskClub lowered Preformed Line Products from a buy rating to a hold rating in a research report on Wednesday, December 18th.
Preformed Line Products stock traded down $0.18 during mid-day trading on Thursday, hitting $59.70. The company had a trading volume of 15,291 shares, compared to its average volume of 7,782. The company has a current ratio of 2.79, a quick ratio of 1.69 and a debt-to-equity ratio of 0.24. Preformed Line Products has a 12-month low of $45.12 and a 12-month high of $76.60. The company’s fifty day moving average is $65.21 and its 200-day moving average is $58.04. The company has a market capitalization of $301.30 million, a price-to-earnings ratio of 13.40 and a beta of 1.59.
Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Friday, November 1st. The technology company reported $1.55 EPS for the quarter. Preformed Line Products had a return on equity of 9.02% and a net margin of 5.25%. The business had revenue of $119.22 million for the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Thursday, January 2nd will be given a $0.20 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.80 annualized dividend and a yield of 1.34%.
Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of Preformed Line Products by 11.3% during the 3rd quarter. Rhumbline Advisers now owns 4,779 shares of the technology company’s stock valued at $261,000 after buying an additional 486 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Preformed Line Products by 11.6% during the 2nd quarter. Vanguard Group Inc. now owns 138,702 shares of the technology company’s stock valued at $7,701,000 after buying an additional 14,472 shares in the last quarter. State Street Corp lifted its position in shares of Preformed Line Products by 2.1% during the 3rd quarter. State Street Corp now owns 52,508 shares of the technology company’s stock valued at $2,877,000 after buying an additional 1,065 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its position in shares of Preformed Line Products by 4.2% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 82,847 shares of the technology company’s stock valued at $5,000,000 after buying an additional 3,323 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Preformed Line Products by 22.3% during the 3rd quarter. First Trust Advisors LP now owns 6,048 shares of the technology company’s stock valued at $330,000 after buying an additional 1,102 shares in the last quarter. Institutional investors and hedge funds own 48.87% of the company’s stock.
About Preformed Line Products
Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.
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