Preformed Line Products (NASDAQ:PLPC) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totalling 13,100 shares, a growth of 104.7% from the February 27th total of 6,400 shares. Based on an average daily volume of 10,200 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.6% of the shares of the stock are sold short.
A number of equities analysts have recently issued reports on the company. ValuEngine cut Preformed Line Products from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. BidaskClub upgraded Preformed Line Products from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 26th.
Shares of PLPC traded up $2.68 during midday trading on Thursday, reaching $47.57. The stock had a trading volume of 13,500 shares, compared to its average volume of 10,710. The company’s 50-day moving average is $49.81 and its 200 day moving average is $57.49. Preformed Line Products has a 12-month low of $36.16 and a 12-month high of $76.60. The company has a current ratio of 2.86, a quick ratio of 1.68 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $222.60 million, a price-to-earnings ratio of 10.43 and a beta of 1.61.
Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data on Friday, March 6th. The technology company reported $1.09 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 8.99% and a net margin of 5.24%. The firm had revenue of $113.65 million during the quarter.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Wednesday, April 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Tuesday, March 31st.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Denali Advisors LLC lifted its stake in shares of Preformed Line Products by 4,390.2% in the 4th quarter. Denali Advisors LLC now owns 1,841 shares of the technology company’s stock valued at $111,000 after acquiring an additional 1,800 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Preformed Line Products by 6.7% in the 4th quarter. Bank of America Corp DE now owns 2,834 shares of the technology company’s stock valued at $171,000 after acquiring an additional 177 shares during the last quarter. Barclays PLC lifted its stake in shares of Preformed Line Products by 100.4% in the 4th quarter. Barclays PLC now owns 3,136 shares of the technology company’s stock valued at $189,000 after acquiring an additional 1,571 shares during the last quarter. Shaker Investments LLC OH bought a new stake in shares of Preformed Line Products in the 4th quarter valued at about $305,000. Finally, First Trust Advisors LP lifted its stake in shares of Preformed Line Products by 22.3% in the 3rd quarter. First Trust Advisors LP now owns 6,048 shares of the technology company’s stock valued at $330,000 after acquiring an additional 1,102 shares during the last quarter. 49.12% of the stock is owned by institutional investors.
About Preformed Line Products
Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.
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