Short Interest in Preformed Line Products (NASDAQ:PLPC) Declines By 23.6%

Preformed Line Products (NASDAQ:PLPC) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 14,900 shares, a decline of 23.6% from the November 30th total of 19,500 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 10,600 shares, the short-interest ratio is presently 1.4 days.

Preformed Line Products Stock Performance

Shares of Preformed Line Products stock opened at $126.97 on Friday. The business has a 50-day simple moving average of $131.82 and a 200 day simple moving average of $125.83. The firm has a market capitalization of $621.90 million, a price-to-earnings ratio of 19.06 and a beta of 0.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. Preformed Line Products has a one year low of $109.01 and a one year high of $145.28.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%. The company had revenue of $146.97 million for the quarter.

Preformed Line Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is 12.01%.

Institutional Investors Weigh In On Preformed Line Products

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in Preformed Line Products by 27.7% during the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company’s stock valued at $3,214,000 after purchasing an additional 5,442 shares during the last quarter. Apis Capital Advisors LLC purchased a new position in shares of Preformed Line Products during the second quarter valued at approximately $573,000. Ingalls & Snyder LLC bought a new stake in Preformed Line Products during the third quarter worth $521,000. JPMorgan Chase & Co. raised its position in Preformed Line Products by 93.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock valued at $1,040,000 after buying an additional 3,919 shares during the last quarter. Finally, Koss Olinger Consulting LLC bought a new position in Preformed Line Products during the 2nd quarter valued at $447,000. 41.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.