Preformed Line Products Company (NASDAQ:PLPC – Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $398.27 and last traded at $397.7440, with a volume of 57512 shares trading hands. The stock had previously closed at $384.27.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Loop Capital set a $275.00 price target on Preformed Line Products in a research note on Monday, March 9th. Freedom Capital downgraded Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Weiss Ratings lowered Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded Preformed Line Products from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $275.00.
View Our Latest Report on PLPC
Preformed Line Products Stock Performance
Preformed Line Products (NASDAQ:PLPC – Get Free Report) last issued its earnings results on Wednesday, April 29th. The technology company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.32. The firm had revenue of $176.28 million during the quarter, compared to analyst estimates of $178.00 million. Preformed Line Products had a net margin of 4.92% and a return on equity of 8.96%.
Preformed Line Products Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Wednesday, July 1st will be paid a $0.21 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $0.84 annualized dividend and a yield of 0.2%. Preformed Line Products’s payout ratio is presently 12.09%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. bought a new stake in shares of Preformed Line Products in the second quarter worth about $383,000. Hsbc Holdings PLC bought a new position in Preformed Line Products during the second quarter valued at approximately $286,000. Arrowstreet Capital Limited Partnership grew its holdings in Preformed Line Products by 45.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 23,497 shares of the technology company’s stock valued at $3,755,000 after buying an additional 7,332 shares in the last quarter. First Trust Advisors LP grew its holdings in Preformed Line Products by 7.4% during the 2nd quarter. First Trust Advisors LP now owns 24,412 shares of the technology company’s stock valued at $3,901,000 after buying an additional 1,689 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Preformed Line Products in the 2nd quarter worth approximately $585,000. Institutional investors own 41.19% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Preformed Line Products
- Buy CrowdStrike Before the Stock Split? Here’s the Case
- Investors Are Buying Into Sweetgreen Again—Should They?
- Burlington Is Winning Over Shoppers But Investors Need Patience
- USA Today’s Digital Revival Is Gaining Steam, But With Plenty of Risk
Receive News & Ratings for Preformed Line Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preformed Line Products and related companies with MarketBeat.com's FREE daily email newsletter.
