Preformed Line Products (NASDAQ:PLPC) Downgraded by StockNews.com to Buy

StockNews.com lowered shares of Preformed Line Products (NASDAQ:PLPC) from a strong-buy rating to a buy rating in a research report released on Tuesday.

Preformed Line Products Price Performance

Preformed Line Products stock opened at $130.57 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The business has a 50 day simple moving average of $134.00 and a 200-day simple moving average of $128.79. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $154.90. The stock has a market capitalization of $639.53 million, a PE ratio of 19.61 and a beta of 0.63.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, January 7th. Preformed Line Products’s payout ratio is 12.01%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in Preformed Line Products during the 3rd quarter worth approximately $103,000. SG Americas Securities LLC grew its holdings in 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 worth $135,000 after acquiring an additional 122 shares during the period. Wells Fargo & Company MN raised its position in Preformed Line Products by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock worth $180,000 after acquiring an additional 314 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Preformed Line Products by 13.1% in the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock valued at $304,000 after acquiring an additional 274 shares during the period. Finally, Quest Partners LLC boosted its position in shares of Preformed Line Products by 62.4% during the 3rd quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock worth $327,000 after purchasing an additional 981 shares in the last quarter. 41.19% of the stock is owned by hedge funds and other institutional investors.

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.