Preformed Line Products (NASDAQ:PLPC) Shares Gap Down – Here’s What Happened

Preformed Line Products Company (NASDAQ:PLPC) gapped down before the market opened on Monday . The stock had previously closed at $250.43, but opened at $238.08. Preformed Line Products shares last traded at $240.35, with a volume of 4,021 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Preformed Line Products in a report on Monday, December 29th. Wall Street Zen cut Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Preformed Line Products Price Performance

The company has a current ratio of 3.09, a quick ratio of 1.84 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $219.60 and a 200-day moving average of $200.70. The firm has a market capitalization of $1.18 billion, a P/E ratio of 31.99 and a beta of 0.78.

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Wednesday, October 29th. The technology company reported $2.09 earnings per share (EPS) for the quarter. Preformed Line Products had a net margin of 5.62% and a return on equity of 10.09%. The company had revenue of $178.09 million during the quarter.

Preformed Line Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th were issued a dividend of $0.21 per share. This is a boost from Preformed Line Products’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, January 5th. Preformed Line Products’s payout ratio is 11.13%.

Institutional Investors Weigh In On Preformed Line Products

Large investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management raised its holdings in Preformed Line Products by 4.2% in the 4th quarter. Ritholtz Wealth Management now owns 8,446 shares of the technology company’s stock valued at $1,746,000 after acquiring an additional 341 shares in the last quarter. WealthBridge Capital Management LLC increased its position in shares of Preformed Line Products by 4.7% in the fourth quarter. WealthBridge Capital Management LLC now owns 8,011 shares of the technology company’s stock worth $1,656,000 after purchasing an additional 360 shares during the period. Ausbil Investment Management Ltd raised its stake in Preformed Line Products by 12.5% in the fourth quarter. Ausbil Investment Management Ltd now owns 6,784 shares of the technology company’s stock valued at $1,402,000 after purchasing an additional 752 shares in the last quarter. SG Americas Securities LLC lifted its position in Preformed Line Products by 19.6% during the fourth quarter. SG Americas Securities LLC now owns 2,846 shares of the technology company’s stock worth $588,000 after purchasing an additional 466 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Preformed Line Products by 80.2% during the third quarter. JPMorgan Chase & Co. now owns 2,837 shares of the technology company’s stock worth $556,000 after purchasing an additional 1,263 shares during the period. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Company Profile

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.