Preformed Line Products (NASDAQ:PLPC) Sees Unusually-High Trading Volume – Here’s What Happened

Preformed Line Products (NASDAQ:PLPC) saw an uptick in trading volume on Wednesday . 21,571 shares were traded during mid-day trading, a decline of 16% from the previous session’s volume of 25,648 shares.The stock last traded at $123.90 and had previously closed at $124.91.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th.

Preformed Line Products Trading Up 0.1 %

The stock has a 50-day moving average price of $134.08 and a 200-day moving average price of $129.14. The stock has a market cap of $600.47 million, a P/E ratio of 18.30 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PLPC. Truvestments Capital LLC bought a new stake in shares of Preformed Line Products in the 3rd quarter worth approximately $103,000. SG Americas Securities LLC increased its stake in shares of Preformed Line Products by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock valued at $135,000 after purchasing an additional 122 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Preformed Line Products by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock valued at $180,000 after purchasing an additional 314 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Preformed Line Products by 13.1% during the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock valued at $304,000 after buying an additional 274 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in Preformed Line Products by 62.4% in the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock worth $327,000 after acquiring an additional 981 shares in the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

About Preformed Line Products

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.