Preformed Line Products (NASDAQ:PLPC) Stock Passes Above 200 Day Moving Average – Should You Sell?

Preformed Line Products (NASDAQ:PLPC)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $124.42 and traded as high as $126.68. Preformed Line Products shares last traded at $124.89, with a volume of 7,842 shares traded.

Preformed Line Products Trading Up 2.3 %

The firm has a market cap of $614.21 million, a P/E ratio of 12.08 and a beta of 0.61. The company’s 50 day simple moving average is $119.93 and its 200-day simple moving average is $124.42. The company has a quick ratio of 1.57, a current ratio of 2.93 and a debt-to-equity ratio of 0.07.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.89 earnings per share (EPS) for the quarter. The company had revenue of $138.72 million during the quarter. Preformed Line Products had a return on equity of 9.83% and a net margin of 6.90%.

Preformed Line Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, October 1st. Preformed Line Products’s payout ratio is presently 7.74%.

Institutional Investors Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in shares of Preformed Line Products by 2.3% during the second quarter. Rhumbline Advisers now owns 3,861 shares of the technology company’s stock worth $481,000 after acquiring an additional 86 shares during the period. Janney Montgomery Scott LLC grew its stake in Preformed Line Products by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock worth $1,823,000 after purchasing an additional 192 shares in the last quarter. Renaissance Technologies LLC raised its position in Preformed Line Products by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock valued at $8,294,000 after purchasing an additional 200 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Preformed Line Products in the 2nd quarter worth $27,000. Finally, Russell Investments Group Ltd. lifted 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 worth $515,000 after buying an additional 254 shares during the period. Institutional investors own 41.19% of the company’s stock.

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.