Preformed Line Products (NASDAQ:PLPC) Short Interest Update

Preformed Line Products (NASDAQ:PLPC) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 35,200 shares, an increase of 23.9% from the May 31st total of 28,400 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 14,900 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

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

Preformed Line Products Price Performance

PLPC opened at $121.50 on Tuesday. The company has a market cap of $597.78 million, a P/E ratio of 11.75 and a beta of 0.65. The company has a 50 day moving average of $128.61 and a two-hundred day moving average of $128.39. The company has a quick ratio of 1.73, a current ratio of 3.15 and a debt-to-equity ratio of 0.12. Preformed Line Products has a 52-week low of $104.96 and a 52-week high of $184.82.

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

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Monday, July 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.66%. Preformed Line Products’s dividend payout ratio (DPR) is presently 7.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CM Management LLC grew its holdings in Preformed Line Products by 48.6% during the 1st quarter. CM Management LLC now owns 26,000 shares of the technology company’s stock worth $3,345,000 after acquiring an additional 8,500 shares in the last quarter. Vanguard Group Inc. grew its holdings in Preformed Line Products by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock worth $9,398,000 after acquiring an additional 3,489 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Preformed Line Products by 6.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,003 shares of the technology company’s stock valued at $515,000 after buying an additional 254 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Preformed Line Products by 1.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock valued at $1,823,000 after buying an additional 192 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Preformed Line Products by 29.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,231 shares of the technology company’s stock valued at $416,000 after buying an additional 726 shares during the period. 41.19% of the stock is currently owned by hedge funds and other 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.