Preformed Line Products (NASDAQ:PLPC) Hits New 12-Month High – What’s Next?

Preformed Line Products Company (NASDAQ:PLPC) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $253.19 and last traded at $253.6670, with a volume of 67564 shares changing hands. The stock had previously closed at $241.01.

Analyst Ratings Changes

Several brokerages recently weighed in on PLPC. Wall Street Zen downgraded shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Preformed Line Products in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Preformed Line Products has a consensus rating of “Buy”.

Preformed Line Products Trading Up 2.9%

The company has a current ratio of 3.09, a quick ratio of 1.84 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 32.86 and a beta of 0.78. The business has a 50 day simple moving average of $221.57 and a 200-day simple moving average of $201.74.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Wednesday, October 29th. The technology company reported $2.09 earnings per share for the quarter. Preformed Line Products had a net margin of 5.62% and a return on equity of 10.09%. The business had revenue of $178.09 million for the quarter.

Preformed Line Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were issued a $0.21 dividend. This is a boost from Preformed Line Products’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, January 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Preformed Line Products’s dividend payout ratio (DPR) is 11.13%.

Institutional Trading of Preformed Line Products

A number of institutional investors and hedge funds have recently made changes to their positions in PLPC. Arrowstreet Capital Limited Partnership boosted its holdings in Preformed Line Products by 81.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 42,713 shares of the technology company’s stock valued at $8,378,000 after acquiring an additional 19,216 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Preformed Line Products by 34.0% in the 3rd quarter. Invesco Ltd. now owns 63,076 shares of the technology company’s stock worth $12,372,000 after purchasing an additional 16,010 shares during the period. TrueMark Investments LLC acquired a new position in shares of Preformed Line Products in the 2nd quarter valued at about $2,521,000. Two Sigma Investments LP lifted its stake in shares of Preformed Line Products by 31.6% in the 3rd quarter. Two Sigma Investments LP now owns 41,340 shares of the technology company’s stock valued at $8,109,000 after purchasing an additional 9,925 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Preformed Line Products by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock worth $13,068,000 after purchasing an additional 9,637 shares during the period. 41.19% of the stock is currently owned by institutional investors and hedge funds.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.