Preformed Line Products (NASDAQ:PLPC) Sees Unusually-High Trading Volume

Preformed Line Products (NASDAQ:PLPC) saw unusually-strong trading volume on Monday . Approximately 5,529 shares changed hands during mid-day trading, a decline of 65% from the previous session’s volume of 15,734 shares.The stock last traded at $129.32 and had previously closed at $131.58.

Wall Street Analyst Weigh In

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

Preformed Line Products Trading Down 1.2 %

The stock has a market capitalization of $648.41 million, a P/E ratio of 12.75 and a beta of 0.70. The company has a current ratio of 3.15, a quick ratio of 1.73 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $128.42 and a 200 day moving average price of $128.61.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. New York State Teachers Retirement System grew its stake in Preformed Line Products by 123.0% during the 4th quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock valued at $30,000 after purchasing an additional 123 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Preformed Line Products in the 4th quarter worth about $34,000. Tower Research Capital LLC TRC raised its holdings in shares of Preformed Line Products by 243.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 282 shares of the technology company’s stock valued at $38,000 after acquiring an additional 200 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Preformed Line Products during the fourth quarter valued at approximately $75,000. Finally, SG Americas Securities LLC raised its holdings in shares of Preformed Line Products by 21.1% during the fourth quarter. SG Americas Securities LLC now owns 1,050 shares of the technology company’s stock valued at $141,000 after acquiring an additional 183 shares during the last quarter. 41.19% of the stock is owned by institutional investors and hedge funds.

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.