Preformed Line Products (NASDAQ:PLPC – Get Free Report)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $128.08, but opened at $124.57. Preformed Line Products shares last traded at $125.69, with a volume of 2,065 shares traded.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th.
View Our Latest Report on Preformed Line Products
Preformed Line Products Stock Performance
Preformed Line Products (NASDAQ:PLPC – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.89 EPS for the quarter. The firm had revenue of $138.72 million during the quarter. Preformed Line Products had a net margin of 6.90% and a return on equity of 9.83%.
Preformed Line Products Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.65%. The ex-dividend date is Tuesday, October 1st. Preformed Line Products’s payout ratio is 7.74%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of PLPC. Vanguard Group Inc. lifted its holdings in shares of 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 during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Preformed Line Products by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock worth $8,294,000 after acquiring an additional 200 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Preformed Line Products by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company’s stock worth $3,411,000 after acquiring an additional 984 shares during the last quarter. CM Management LLC raised its position in Preformed Line Products by 48.6% in the 1st quarter. CM Management LLC now owns 26,000 shares of the technology company’s stock worth $3,345,000 after purchasing an additional 8,500 shares during the period. Finally, AQR Capital Management LLC raised its position in Preformed Line Products by 10.4% in the 2nd quarter. AQR Capital Management LLC now owns 17,936 shares of the technology company’s stock worth $2,234,000 after purchasing an additional 1,687 shares during the period. 41.19% of the stock is owned by 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.
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