Preformed Line Products Company (NASDAQ:PLPC – Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $408.42 and last traded at $410.8820, with a volume of 69567 shares. The stock had previously closed at $404.71.
Analyst Ratings Changes
Several brokerages have weighed in on PLPC. Weiss Ratings cut shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Loop Capital set a $275.00 price objective on shares of Preformed Line Products in a research note on Monday, March 9th. Wall Street Zen upgraded shares of Preformed Line Products from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Freedom Capital cut Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Preformed Line Products presently has a consensus rating of “Hold” and an average price target of $275.00.
Read Our Latest Analysis on Preformed Line Products
Preformed Line Products Trading Up 1.4%
Preformed Line Products (NASDAQ:PLPC – Get Free Report) last posted its earnings results on Wednesday, April 29th. The technology company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.82 by $0.32. Preformed Line Products had a net margin of 4.92% and a return on equity of 8.96%. The firm had revenue of $176.28 million during the quarter, compared to analysts’ expectations of $178.00 million.
Preformed Line Products Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, July 1st. Preformed Line Products’s payout ratio is presently 12.09%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. bought a new stake in shares of Preformed Line Products during the second quarter valued at approximately $383,000. Hsbc Holdings PLC bought a new stake in shares of Preformed Line Products during the 2nd quarter valued at $286,000. Arrowstreet Capital Limited Partnership grew its position in shares of Preformed Line Products by 45.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 23,497 shares of the technology company’s stock worth $3,755,000 after buying an additional 7,332 shares during the period. First Trust Advisors LP grew its position in shares of Preformed Line Products by 7.4% in the 2nd quarter. First Trust Advisors LP now owns 24,412 shares of the technology company’s stock worth $3,901,000 after buying an additional 1,689 shares during the period. Finally, Jump Financial LLC bought a new position in shares of Preformed Line Products in the 2nd quarter worth about $585,000. Hedge funds and other 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.
Read More
- Five stocks we like better than Preformed Line Products
- NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race
- Amazon Could Be About to Reap the Rewards of a Software Spending Boom
- Best Buy’s Turnaround Is Gaining Traction, But Wall Street Still Needs Proof
- AI Fears Hit Nebius Stock, But Has the Growth Thesis Changed?
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.
