Insider Selling: Preformed Line Products (NASDAQ:PLPC) President Sells 2,000 Shares of Stock

Preformed Line Products (NASDAQ:PLPC) President Jon Ryan Ruhlman sold 2,000 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $168.78, for a total transaction of $337,560.00. Following the completion of the sale, the president now directly owns 5,340 shares of the company’s stock, valued at approximately $901,285.20. This trade represents a 27.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Preformed Line Products Trading Down 1.6 %

Shares of PLPC stock traded down $2.10 during trading hours on Monday, reaching $126.80. 6,664 shares of the stock were exchanged, compared to its average volume of 6,847. Preformed Line Products has a 12-month low of $109.01 and a 12-month high of $145.28. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $132.22 and its 200-day moving average price is $125.64. The firm has a market capitalization of $621.07 million, a price-to-earnings ratio of 19.04 and a beta of 0.63.

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

Preformed Line Products Announces Dividend

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

Institutional Investors Weigh In On Preformed Line Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Preformed Line Products in the 2nd quarter valued at about $52,000. Truvestments Capital LLC bought a new stake in shares of Preformed Line Products in the 3rd quarter valued at about $103,000. SG Americas Securities LLC bought a new stake in shares of Preformed Line Products in the 3rd quarter valued at about $119,000. Quest Partners LLC bought a new stake in shares of Preformed Line Products in the 2nd quarter valued at about $196,000. Finally, BNP Paribas Financial Markets raised its holdings 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 valued at $304,000 after purchasing an additional 274 shares in the last quarter. Institutional investors own 41.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note 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.