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

Shares of Preformed Line Products Company (NASDAQ:PLPC) reached a new 52-week high during trading on Monday . The stock traded as high as $246.37 and last traded at $243.7890, with a volume of 82580 shares changing hands. The stock had previously closed at $233.85.

Analyst Upgrades and Downgrades

PLPC has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Preformed Line Products in a research report on Monday, December 29th. Wall Street Zen cut shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Preformed Line Products Stock Performance

The stock’s 50-day moving average is $214.38 and its 200-day moving average is $196.59. 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 cap of $1.19 billion, a price-to-earnings ratio of 32.13 and a beta of 0.78.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results 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 announced a quarterly dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Preformed Line Products’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, January 5th. Preformed Line Products’s payout ratio is 11.13%.

Institutional Investors Weigh In On Preformed Line Products

Large investors have recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new stake in Preformed Line Products during the 3rd quarter worth $29,000. Huntington National Bank grew its stake in shares of Preformed Line Products by 181.7% during the third quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after acquiring an additional 129 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Preformed Line Products by 2,562.5% during the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after acquiring an additional 205 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Preformed Line Products by 199.0% during the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after acquiring an additional 199 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Preformed Line Products in the third quarter worth about $51,000. 41.19% of the stock is owned by institutional investors and hedge funds.

Preformed Line Products Company Profile

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.