Preformed Line Products (NASDAQ:PLPC) Issues Earnings Results

Preformed Line Products (NASDAQ:PLPC) issued its quarterly earnings data on Wednesday. The technology company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.08, Zacks reports. Preformed Line Products had a return on equity of 9.47% and a net margin of 5.27%.The business had revenue of $173.11 million during the quarter, compared to analysts’ expectations of $177.00 million.

Preformed Line Products Trading Down 5.3%

Shares of Preformed Line Products stock traded down $13.31 on Friday, reaching $235.72. 89,382 shares of the company were exchanged, compared to its average volume of 118,625. Preformed Line Products has a fifty-two week low of $118.99 and a fifty-two week high of $287.96. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 33.01 and a beta of 0.76. 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 fifty day moving average price of $248.71 and a 200-day moving average price of $221.25.

Preformed Line Products Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, January 5th. This is a positive change from Preformed Line Products’s previous quarterly dividend of $0.20. Preformed Line Products’s payout ratio is presently 11.13%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PLPC. Montag A & Associates Inc. purchased a new stake in shares of Preformed Line Products in the 3rd quarter valued at approximately $29,000. Huntington National Bank raised its stake in Preformed Line Products by 181.7% during the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after purchasing an additional 129 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Preformed Line Products by 2,562.5% in the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after purchasing an additional 205 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Preformed Line Products by 199.0% in the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock worth $48,000 after buying an additional 199 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in shares of Preformed Line Products during the third quarter valued at $51,000. 41.19% of the stock is owned by hedge funds and other institutional investors.

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.