Preformed Line Products (NASDAQ:PLPC) Shares Down 5.1% – Should You Sell?

Shares of Preformed Line Products Company (NASDAQ:PLPC) were down 5.1% during mid-day trading on Tuesday . The stock traded as low as $212.86 and last traded at $214.0150. Approximately 8,394 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 82,417 shares. The stock had previously closed at $225.41.

Wall Street Analysts Forecast Growth

PLPC has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Preformed Line Products in a report on Monday, December 29th. Wall Street Zen lowered Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Preformed Line Products has an average rating of “Buy”.

Preformed Line Products Trading Up 1.2%

The company has a quick ratio of 1.84, a current ratio of 3.09 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.15 billion, a P/E ratio of 31.10 and a beta of 0.78. The business has a fifty day moving average price of $211.81 and a 200 day moving average price of $193.69.

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Wednesday, October 29th. The technology company reported $2.09 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 10.09% and a net margin of 5.62%.The business had revenue of $178.09 million for the quarter.

Preformed Line Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th will be given a dividend of $0.21 per share. This is a boost from Preformed Line Products’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, January 5th. This represents a $0.84 annualized dividend and a yield of 0.4%. Preformed Line Products’s payout ratio is presently 11.13%.

Institutional Trading of Preformed Line Products

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Preformed Line Products by 1.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,511 shares of the technology company’s stock valued at $42,665,000 after purchasing an additional 2,768 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Preformed Line Products by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 162,173 shares of the technology company’s stock worth $31,810,000 after purchasing an additional 7,426 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Preformed Line Products by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock worth $13,068,000 after purchasing an additional 9,637 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Preformed Line Products by 1.2% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 79,731 shares of the technology company’s stock valued at $15,639,000 after buying an additional 913 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Preformed Line Products by 0.5% in the second quarter. Geode Capital Management LLC now owns 66,667 shares of the technology company’s stock valued at $10,656,000 after buying an additional 317 shares in the last quarter. Institutional investors and hedge funds own 41.19% of the company’s stock.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.