Preformed Line Products (NASDAQ:PLPC) Downgraded by StockNews.com to “Buy”

Preformed Line Products (NASDAQ:PLPC) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Preformed Line Products Stock Performance

Shares of PLPC opened at $133.67 on Monday. Preformed Line Products has a 52-week low of $109.01 and a 52-week high of $154.90. The stock’s 50-day simple moving average is $136.70 and its 200 day simple moving average is $134.50. 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 stock has a market capitalization of $660.46 million, a price-to-earnings ratio of 20.07 and a beta of 0.75.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share (EPS) for the quarter. The firm had revenue of $148.54 million for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Institutional Investors Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently made changes to their positions in PLPC. SG Americas Securities LLC increased its stake in Preformed Line Products by 13.1% in the 4th quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock worth $135,000 after acquiring an additional 122 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Preformed Line Products by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company’s stock worth $180,000 after purchasing an additional 314 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Preformed Line Products by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company’s stock worth $365,000 after purchasing an additional 100 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Preformed Line Products by 121.1% in the first quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company’s stock worth $409,000 after purchasing an additional 1,600 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Preformed Line Products by 30,720.0% in the first quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company’s stock valued at $432,000 after purchasing an additional 3,072 shares in the last quarter. 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.