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

Shares of Preformed Line Products (NASDAQ:PLPC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $146.48 and last traded at $143.95, with a volume of 17704 shares changing hands. The stock had previously closed at $141.80.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

Preformed Line Products Stock Performance

The company has a 50-day moving average price of $131.25 and a two-hundred day moving average price of $126.52. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $708.94 million, a P/E ratio of 21.73 and a beta of 0.63.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share (EPS) for the quarter. The business had revenue of $146.97 million for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.55%. The ex-dividend date was Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is currently 12.01%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PLPC. SG Americas Securities LLC raised its holdings in Preformed Line Products by 13.1% in the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company’s stock worth $135,000 after buying an additional 122 shares during the last quarter. Private Advisor Group LLC grew its holdings in Preformed Line Products by 4.8% during the third quarter. Private Advisor Group LLC now owns 2,755 shares of the technology company’s stock valued at $353,000 after purchasing an additional 125 shares during the period. Koss Olinger Consulting LLC grew its stake in shares of Preformed Line Products by 3.8% during the 3rd quarter. Koss Olinger Consulting LLC now owns 3,726 shares of the technology company’s stock valued at $477,000 after acquiring an additional 138 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Preformed Line Products by 13.1% in the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock worth $304,000 after purchasing an additional 274 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Preformed Line Products by 5.0% in the 3rd quarter. Janus Henderson Group PLC now owns 7,885 shares of the technology company’s stock worth $1,010,000 after buying an additional 376 shares in the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.