Preformed Line Products (NASDAQ:PLPC) Reaches New 52-Week High – Should You Buy?

Preformed Line Products Company (NASDAQ:PLPC)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $329.70 and last traded at $326.9980, with a volume of 8561 shares trading hands. The stock had previously closed at $321.01.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLPC. Wall Street Zen lowered shares of Preformed Line Products from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Loop Capital set a $275.00 target price on shares of Preformed Line Products in a report on Monday, March 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Preformed Line Products in a report on Friday, March 27th. Finally, Freedom Capital raised shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus price target of $275.00.

Preformed Line Products Stock Performance

The stock’s 50 day moving average price is $275.03 and its 200 day moving average price is $241.33. The company has a current ratio of 3.17, a quick ratio of 1.87 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 45.95 and a beta of 0.75.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data on Wednesday, March 4th. The technology company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.08. Preformed Line Products had a net margin of 5.27% and a return on equity of 9.36%. The company had revenue of $173.11 million during the quarter, compared to the consensus estimate of $177.00 million.

Preformed Line Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Wednesday, April 1st were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Preformed Line Products’s dividend payout ratio is currently 11.76%.

Institutional Trading of Preformed Line Products

A number of institutional investors and hedge funds have recently bought and sold shares of PLPC. Prudential Financial Inc. acquired a new stake in Preformed Line Products during the 2nd quarter worth approximately $383,000. Hsbc Holdings PLC acquired a new stake in Preformed Line Products during the 2nd quarter worth approximately $286,000. Arrowstreet Capital Limited Partnership increased its position in Preformed Line Products by 45.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 23,497 shares of the technology company’s stock worth $3,755,000 after purchasing an additional 7,332 shares in the last quarter. First Trust Advisors LP increased its position in Preformed Line Products by 7.4% during the 2nd quarter. First Trust Advisors LP now owns 24,412 shares of the technology company’s stock worth $3,901,000 after purchasing an additional 1,689 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Preformed Line Products during the 2nd quarter worth approximately $585,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

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.