Preformed Line Products (NASDAQ:PLPC) Hits New 12-Month High – Still a Buy?

Preformed Line Products Company (NASDAQ:PLPC) shares hit a new 52-week high on Wednesday . The stock traded as high as $288.10 and last traded at $290.19, with a volume of 115644 shares trading hands. The stock had previously closed at $270.75.

Analysts Set New Price Targets

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

Preformed Line Products Stock Performance

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 $1.43 billion, a PE ratio of 40.99 and a beta of 0.76. The firm’s 50-day simple moving average is $260.85 and its two-hundred day simple moving average is $230.86.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.08. The business 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Wednesday, April 1st will be paid a $0.21 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Preformed Line Products’s dividend payout ratio (DPR) is 11.76%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Montag A & Associates Inc. purchased a new position in shares of Preformed Line Products in the third quarter worth about $29,000. Huntington National Bank increased its holdings in Preformed Line Products by 181.7% in the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock worth $39,000 after buying an additional 129 shares during the period. Russell Investments Group Ltd. raised its position in Preformed Line Products by 2,562.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after buying an additional 205 shares during the last quarter. Royal Bank of Canada raised its position in Preformed Line Products by 132.4% during the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock worth $52,000 after buying an additional 143 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Preformed Line Products during the 3rd quarter valued at approximately $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.