Shares of Preformed Line Products Company (NASDAQ:PLPC – Get Free Report) reached a new 52-week high during trading on Wednesday after Freedom Capital upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $426.00 and last traded at $423.60, with a volume of 122818 shares traded. The stock had previously closed at $358.15.
A number of other research firms have also recently issued reports on PLPC. Wall Street Zen upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Preformed Line Products in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, Preformed Line Products currently has an average rating of “Buy” and an average price target of $275.00.
View Our Latest Report on Preformed Line Products
Insiders Place Their Bets
Institutional Trading of Preformed Line Products
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in Preformed Line Products by 22.1% in the 4th quarter. Russell Investments Group Ltd. now owns 260 shares of the technology company’s stock valued at $54,000 after acquiring an additional 47 shares during the period. Pullen Investment Management LLC lifted its holdings in shares of Preformed Line Products by 1.4% during the first quarter. Pullen Investment Management LLC now owns 6,891 shares of the technology company’s stock worth $1,866,000 after purchasing an additional 92 shares during the period. Bank of America Corp DE lifted its holdings in shares of Preformed Line Products by 6.6% during the second quarter. Bank of America Corp DE now owns 1,609 shares of the technology company’s stock worth $257,000 after purchasing an additional 100 shares during the period. Huntington National Bank grew its stake in shares of Preformed Line Products by 55.5% in the fourth quarter. Huntington National Bank now owns 311 shares of the technology company’s stock worth $64,000 after purchasing an additional 111 shares during the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Preformed Line Products by 3.5% in the second quarter. Quantinno Capital Management LP now owns 3,823 shares of the technology company’s stock worth $611,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 41.19% of the company’s stock.
Preformed Line Products Stock Down 2.2%
The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 51.89 and a beta of 0.91. The stock has a fifty day moving average of $365.13 and a two-hundred day moving average of $317.91. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.99 and a quick ratio of 1.78.
Preformed Line Products (NASDAQ:PLPC – Get Free Report) last announced its earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, topping the consensus estimate of $2.41 by $2.08. Preformed Line Products had a return on equity of 10.64% and a net margin of 5.82%.The firm had revenue of $212.68 million for the quarter, compared to the consensus estimate of $193.00 million.
Preformed Line Products Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Wednesday, July 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, July 1st. Preformed Line Products’s payout ratio is currently 9.46%.
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.
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