Short Interest in Preformed Line Products (NASDAQ:PLPC) Expands By 64.7%

Preformed Line Products (NASDAQ:PLPC) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 36,400 shares, a growth of 64.7% from the January 15th total of 22,100 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average trading volume of 19,900 shares, the short-interest ratio is presently 1.8 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC bought a new position in shares of Preformed Line Products during the third quarter worth approximately $103,000. SG Americas Securities LLC bought a new position in Preformed Line Products in the third quarter valued at approximately $119,000. BNP Paribas Financial Markets increased its stake in 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 valued at $304,000 after acquiring an additional 274 shares during the last quarter. Quest Partners LLC increased its stake in Preformed Line Products by 62.4% in the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock valued at $327,000 after acquiring an additional 981 shares during the last quarter. Finally, Summit Global Investments bought a new position in Preformed Line Products in the third quarter valued at approximately $345,000. 41.19% of the stock is owned by institutional investors.

Preformed Line Products Stock Down 1.7 %

Shares of PLPC opened at $140.53 on Thursday. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $154.90. The firm’s 50 day moving average is $132.82 and its 200-day moving average is $127.78. The stock has a market capitalization of $688.60 million, a PE ratio of 21.10 and a beta of 0.63. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, January 7th. This represents a $0.80 annualized dividend and a dividend yield of 0.57%. Preformed Line Products’s dividend payout ratio is presently 12.01%.

Analyst Ratings Changes

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