Preformed Line Products (NASDAQ:PLPC) saw a large growth in short interest during the month of 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. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 10,200 shares, the short-interest ratio is presently 1.3 days.

Shares of Preformed Line Products stock traded up $2.68 during midday trading on Thursday, hitting $47.57. The company had a trading volume of 13,500 shares, compared to its average volume of 10,710. The company has a 50 day moving average of $49.81 and a 200 day moving average of $57.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.68 and a current ratio of 2.86. Preformed Line Products has a 52-week low of $36.16 and a 52-week high of $76.60. The stock has a market capitalization of $222.60 million, a P/E ratio of 10.43 and a beta of 1.61.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Friday, March 6th. The technology company reported $1.09 EPS for the quarter. Preformed Line Products had a return on equity of 8.99% and a net margin of 5.24%. The business had revenue of $113.65 million for the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.80 annualized dividend and a yield of 1.68%.

PLPC has been the topic of several recent research reports. ValuEngine downgraded Preformed Line Products from a “buy” rating to a “hold” rating in a research note on Thursday, January 16th. BidaskClub upgraded Preformed Line Products from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 26th.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in Preformed Line Products by 6.7% during the 4th quarter. Bank of America Corp DE now owns 2,834 shares of the technology company’s stock valued at $171,000 after purchasing an additional 177 shares during the last quarter. California Public Employees Retirement System boosted its stake in Preformed Line Products by 9.0% during the 4th quarter. California Public Employees Retirement System now owns 6,067 shares of the technology company’s stock valued at $366,000 after purchasing an additional 500 shares during the last quarter. State Street Corp boosted its stake in Preformed Line Products by 2.1% during the 3rd quarter. State Street Corp now owns 52,508 shares of the technology company’s stock valued at $2,877,000 after purchasing an additional 1,065 shares during the last quarter. First Trust Advisors LP boosted its stake in Preformed Line Products by 22.3% during the 3rd quarter. First Trust Advisors LP now owns 6,048 shares of the technology company’s stock valued at $330,000 after purchasing an additional 1,102 shares during the last quarter. Finally, Barclays PLC boosted its stake in Preformed Line Products by 100.4% during the 4th quarter. Barclays PLC now owns 3,136 shares of the technology company’s stock valued at $189,000 after purchasing an additional 1,571 shares during the last quarter. Institutional investors and hedge funds own 49.12% of the company’s stock.

Preformed Line Products Company Profile

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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