Preformed Line Products (NASDAQ:PLPC) Short Interest Update

Preformed Line Products (NASDAQ:PLPC) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 14,900 shares, a decline of 23.6% from the November 30th total of 19,500 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 10,600 shares, the short-interest ratio is presently 1.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Preformed Line Products by 93.3% during the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock worth $1,040,000 after buying an additional 3,919 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Preformed Line Products by 21.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,161 shares of the technology company’s stock valued at $389,000 after purchasing an additional 556 shares during the period. Barclays PLC lifted its stake in shares of Preformed Line Products by 135.6% in the 3rd quarter. Barclays PLC now owns 4,989 shares of the technology company’s stock valued at $638,000 after purchasing an additional 2,871 shares during the period. Ingalls & Snyder LLC bought a new stake in shares of Preformed Line Products during the 3rd quarter valued at about $521,000. Finally, Janus Henderson Group PLC grew its stake in Preformed Line Products by 5.0% during the third quarter. Janus Henderson Group PLC now owns 7,885 shares of the technology company’s stock worth $1,010,000 after purchasing an additional 376 shares during the period. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Stock Performance

Shares of Preformed Line Products stock opened at $126.97 on Friday. The stock has a market cap of $621.90 million, a price-to-earnings ratio of 19.06 and a beta of 0.60. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $145.28. The company’s fifty day moving average is $131.82 and its 200 day moving average is $125.83. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 EPS for the quarter. The firm had revenue of $146.97 million for the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Preformed Line Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Tuesday, January 7th. Preformed Line Products’s dividend payout ratio is presently 12.01%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

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.