Preformed Line Products (NASDAQ:PLPC) Shares Gap Up – Here’s Why

Shares of Preformed Line Products (NASDAQ:PLPC) gapped up prior to trading on Friday . The stock had previously closed at $123.50, but opened at $133.07. Preformed Line Products shares last traded at $147.38, with a volume of 5,353 shares traded.

Analyst Ratings Changes

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

Preformed Line Products Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The company has a 50 day moving average price of $133.56 and a 200 day moving average price of $129.41. The company has a market capitalization of $707.03 million, a price-to-earnings ratio of 21.67 and a beta of 0.61.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Thursday, March 13th. The technology company reported $2.13 earnings per share (EPS) for the quarter. The business had revenue of $167.12 million during the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Hedge Funds Weigh In On Preformed Line Products

Hedge funds and other institutional investors have recently modified their holdings of the business. Truvestments Capital LLC purchased a new position in shares of Preformed Line Products in the 3rd quarter worth approximately $103,000. SG Americas Securities LLC raised its holdings in 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 valued at $135,000 after acquiring an additional 122 shares during the period. Wells Fargo & Company MN raised its holdings in 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 holdings in shares of 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 worth $304,000 after purchasing an additional 274 shares during the period. Finally, Quest Partners LLC increased its holdings in shares of Preformed Line Products by 62.4% in the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock worth $327,000 after purchasing an additional 981 shares during the period. Hedge funds and other institutional investors own 41.19% of the company’s stock.

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.