Short Interest in Preformed Line Products (NASDAQ:PLPC) Grows By 89.3%

Preformed Line Products (NASDAQ:PLPC) was the recipient of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 68,900 shares, an increase of 89.3% from the January 31st total of 36,400 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 20,500 shares, the short-interest ratio is currently 3.4 days.

Hedge Funds Weigh In On Preformed Line Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new position in Preformed Line Products in the third quarter valued at approximately $103,000. SG Americas Securities LLC boosted its holdings in Preformed Line Products by 13.1% in 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 boosted its holdings 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 valued at $180,000 after purchasing an additional 314 shares in the last quarter. BNP Paribas Financial Markets boosted 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 purchasing an additional 274 shares in 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 valued at $327,000 after purchasing an additional 981 shares in the last quarter. 41.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Preformed Line Products Stock Down 0.2 %

Shares of PLPC stock traded down $0.29 during trading hours on Friday, reaching $130.28. 18,117 shares of the stock were exchanged, compared to its average volume of 26,164. The business’s fifty day moving average is $134.19 and its two-hundred day moving average is $129.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. Preformed Line Products has a 12-month low of $109.01 and a 12-month high of $154.90. The firm has a market capitalization of $638.11 million, a P/E ratio of 19.56 and a beta of 0.63.

Preformed Line Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is 12.01%.

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.