Preformed Line Products (NASDAQ:PLPC) Hits New 52-Week High – What’s Next?

Shares of Preformed Line Products Company (NASDAQ:PLPC) reached a new 52-week high on Thursday . The company traded as high as $251.08 and last traded at $250.9350, with a volume of 31912 shares changing hands. The stock had previously closed at $244.67.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PLPC shares. Wall Street Zen lowered shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Preformed Line Products in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Preformed Line Products Trading Up 2.4%

The stock’s 50 day simple moving average is $217.99 and its 200 day simple moving average is $199.39. The firm has a market cap of $1.23 billion, a PE ratio of 33.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 3.09.

Preformed Line Products (NASDAQ:PLPC) last posted 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 firm had revenue of $178.09 million for the quarter.

Preformed Line Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. This is an increase from Preformed Line Products’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, January 5th. Preformed Line Products’s dividend payout ratio is presently 11.13%.

Hedge Funds Weigh In On Preformed Line Products

Several institutional investors have recently modified their holdings of the company. Montag A & Associates Inc. purchased a new stake in Preformed Line Products in the third quarter worth approximately $29,000. Huntington National Bank raised 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 worth $39,000 after acquiring an additional 129 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Preformed Line Products by 2,562.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after acquiring an additional 205 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Preformed Line Products by 199.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after purchasing an additional 199 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Preformed Line Products in the 3rd quarter valued at $51,000. 41.19% of the stock is currently owned by institutional investors.

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.