Preformed Line Products (NASDAQ:PLPC) Sees Unusually-High Trading Volume – Should You Buy?

Preformed Line Products (NASDAQ:PLPC) saw strong trading volume on Wednesday . 21,571 shares traded hands 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.

Wall Street Analysts Forecast Growth

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

Preformed Line Products Stock Up 0.3 %

The company has a fifty day moving average of $133.86 and a 200 day moving average of $129.06. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The company has a market cap of $605.15 million, a P/E ratio of 18.55 and a beta of 0.63.

Institutional Investors Weigh In On Preformed Line Products

Hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC purchased a new position in shares of Preformed Line Products in the third quarter worth approximately $103,000. SG Americas Securities LLC boosted its stake in shares of Preformed Line Products by 13.1% during the 4th 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 last quarter. Wells Fargo & Company MN grew its position in shares of Preformed Line Products by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock valued at $180,000 after acquiring an additional 314 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Preformed Line Products by 13.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock worth $304,000 after purchasing an additional 274 shares in the last quarter. Finally, Quest Partners LLC lifted its position in Preformed Line Products by 62.4% during the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after purchasing an additional 981 shares in the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Preformed Line Products Company Profile

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.