Preformed Line Products (NASDAQ:PLPC) Stock Rating Lowered by StockNews.com

Preformed Line Products (NASDAQ:PLPC) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

Preformed Line Products Stock Performance

Shares of PLPC stock opened at $134.15 on Tuesday. 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 has a market cap of $657.07 million, a PE ratio of 20.14 and a beta of 0.63. The company’s fifty day simple moving average is $133.84 and its 200-day simple moving average is $128.75. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $154.90.

Institutional Trading of Preformed Line Products

Several large investors have recently bought and sold shares of PLPC. Pullen Investment Management LLC acquired a new position in shares of Preformed Line Products during the fourth quarter worth $605,000. Janus Henderson Group PLC increased its stake in Preformed Line Products by 13.9% during the 4th quarter. Janus Henderson Group PLC now owns 8,983 shares of the technology company’s stock worth $1,149,000 after buying an additional 1,098 shares during the period. Northern Trust Corp lifted its holdings in Preformed Line Products by 1.2% in the 4th quarter. Northern Trust Corp now owns 35,732 shares of the technology company’s stock worth $4,566,000 after buying an additional 429 shares in the last quarter. First Trust Advisors LP boosted its position in Preformed Line Products by 12.4% in the 4th quarter. First Trust Advisors LP now owns 22,481 shares of the technology company’s stock valued at $2,873,000 after buying an additional 2,480 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Preformed Line Products by 8.5% during the fourth quarter. Barclays PLC now owns 5,413 shares of the technology company’s stock valued at $692,000 after acquiring an additional 424 shares in the last quarter. Institutional investors and hedge funds 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.