Preformed Line Products (NASDAQ:PLPC) Trading Up 8.7% – Should You Buy?

Preformed Line Products Company (NASDAQ:PLPC)’s stock price shot up 8.7% during trading on Tuesday . The company traded as high as $262.84 and last traded at $264.4350. 82,616 shares were traded during trading, a decline of 31% from the average session volume of 119,061 shares. The stock had previously closed at $243.27.

Analyst Ratings Changes

Several 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. Loop Capital set a $275.00 price objective on Preformed Line Products in a research report on Monday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Preformed Line Products in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Preformed Line Products currently has an average rating of “Buy” and a consensus target price of $275.00.

Preformed Line Products Stock Up 9.3%

The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 37.15 and a beta of 0.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.17 and a quick ratio of 1.87. The business has a fifty day moving average price of $249.85 and a two-hundred day moving average price of $222.63.

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

Preformed Line Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were given a dividend of $0.21 per share. This is an increase from Preformed Line Products’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, January 5th. Preformed Line Products’s dividend payout ratio (DPR) is 11.76%.

Institutional Investors Weigh In On Preformed Line Products

Several hedge funds have recently modified their holdings of the company. HighTower Advisors LLC boosted its position in Preformed Line Products by 11.6% during the fourth quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock worth $199,720,000 after purchasing an additional 100,113 shares in the last quarter. Informed Momentum Co LLC acquired a new stake in Preformed Line Products during the 4th quarter worth $4,640,000. Arrowstreet Capital Limited Partnership boosted its position in Preformed Line Products by 81.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 42,713 shares of the technology company’s stock worth $8,378,000 after acquiring an additional 19,216 shares during the last quarter. Invesco Ltd. grew its position in shares of Preformed Line Products by 25.7% in the fourth quarter. Invesco Ltd. now owns 79,299 shares of the technology company’s stock valued at $16,392,000 after purchasing an additional 16,223 shares in the last quarter. Finally, Congruence Capital LLC purchased a new stake in Preformed Line Products in the 4th quarter valued at $3,186,000. 41.19% of the stock is owned by hedge funds and other 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.