Preformed Line Products (NASDAQ:PLPC) Sees Large Increase in Short Interest

Preformed Line Products (NASDAQ:PLPC) saw a significant increase in short interest in 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. Based on an average trading volume of 14,900 shares, the short-interest ratio is currently 2.4 days. Approximately 1.5% of the shares of the stock are short sold.

Preformed Line Products Trading Down 0.3 %

Shares of Preformed Line Products stock traded down $0.41 during trading on Tuesday, reaching $121.09. The company’s stock had a trading volume of 8,144 shares, compared to its average volume of 15,911. Preformed Line Products has a 52-week low of $104.96 and a 52-week high of $184.82. The company has a market cap of $595.76 million, a price-to-earnings ratio of 11.75 and a beta of 0.65. The firm’s 50-day moving average is $128.61 and its two-hundred day moving average is $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 (NASDAQ:PLPC) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.94 earnings per share (EPS) for the quarter. Preformed Line Products had a net margin of 8.20% and a return on equity of 12.67%. The company had revenue of $140.90 million during the quarter.

Preformed Line Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Monday, July 1st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.66%. Preformed Line Products’s dividend payout ratio is currently 7.74%.

Institutional Investors Weigh In On Preformed Line Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in Preformed Line Products by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 367,708 shares of the technology company’s stock worth $49,222,000 after purchasing an additional 5,913 shares in the last quarter. Invesco Ltd. increased its stake in shares of Preformed Line Products by 215.5% in the 3rd quarter. Invesco Ltd. now owns 68,311 shares of the technology company’s stock worth $11,106,000 after acquiring an additional 46,656 shares in the last quarter. Navellier & Associates Inc. increased its stake in shares of Preformed Line Products by 54.5% in the 4th quarter. Navellier & Associates Inc. now owns 3,259 shares of the technology company’s stock worth $436,000 after acquiring an additional 1,149 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Preformed Line Products by 84.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,294 shares of the technology company’s stock worth $5,088,000 after acquiring an additional 14,363 shares in the last quarter. Finally, Alps Advisors Inc. bought a new position in shares of Preformed Line Products in the 3rd quarter worth about $322,000. 41.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut 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 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.