Preformed Line Products (NASDAQ:PLPC) Short Interest Update
Preformed Line Products (NASDAQ:PLPC) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 19,700 shares, a decline of 39.2% from the May 30th total of 32,400 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 10,800 shares, the short-interest ratio is presently 1.8 days.
Shares of NASDAQ PLPC traded up $0.92 during mid-day trading on Friday, reaching $56.45. 4,970 shares of the company were exchanged, compared to its average volume of 7,315. Preformed Line Products has a 52 week low of $45.12 and a 52 week high of $89.70. The company has a quick ratio of 1.88, a current ratio of 3.11 and a debt-to-equity ratio of 0.20. The stock has a market cap of $280.89 million, a PE ratio of 12.42 and a beta of 1.45. The stock has a 50 day moving average of $51.92.
Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Friday, May 3rd. The technology company reported $0.36 earnings per share for the quarter. The business had revenue of $97.15 million during the quarter. Preformed Line Products had a net margin of 5.45% and a return on equity of 9.29%.
Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its stake in Preformed Line Products by 550.0% in the first quarter. BNP Paribas Arbitrage SA now owns 650 shares of the technology company’s stock worth $35,000 after purchasing an additional 550 shares during the last quarter. SG Americas Securities LLC bought a new stake in Preformed Line Products in the first quarter worth $112,000. Bank of America Corp DE lifted its stake in Preformed Line Products by 79.0% in the fourth quarter. Bank of America Corp DE now owns 2,180 shares of the technology company’s stock worth $119,000 after purchasing an additional 962 shares during the last quarter. Rhumbline Advisers lifted its stake in Preformed Line Products by 45.0% in the fourth quarter. Rhumbline Advisers now owns 4,363 shares of the technology company’s stock worth $237,000 after purchasing an additional 1,355 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Preformed Line Products by 18.2% in the fourth quarter. First Trust Advisors LP now owns 4,881 shares of the technology company’s stock worth $265,000 after purchasing an additional 750 shares during the last quarter. 44.80% of the stock is owned by institutional investors and hedge funds.
PLPC has been the subject of a number of research analyst reports. BidaskClub raised shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. TheStreet downgraded shares of Zumiez from a “b” rating to a “c+” rating in a report on Thursday, June 6th.
About Preformed Line Products
Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.
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