Preformed Line Products (NASDAQ:PLPC) Reaches New 1-Year High – Should You Buy?

Preformed Line Products Company (NASDAQ:PLPC) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $251.08 and last traded at $250.9350, with a volume of 31912 shares changing hands. The stock had previously closed at $244.67.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLPC shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Preformed Line Products in a research report on Monday, December 29th. Wall Street Zen cut shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Preformed Line Products Trading Down 5.3%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 3.09. The company has a market capitalization of $1.16 billion, a P/E ratio of 31.40 and a beta of 0.78. The company’s fifty day simple moving average is $219.60 and its 200-day simple moving average is $200.24.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $2.09 earnings per share for the quarter. The firm had revenue of $178.09 million during the quarter. Preformed Line Products had a net margin of 5.62% and a return on equity of 10.09%.

Preformed Line Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, January 5th. This is a positive change from Preformed Line Products’s previous quarterly dividend of $0.20. Preformed Line Products’s dividend payout ratio is presently 11.13%.

Hedge Funds Weigh In On Preformed Line Products

A number of large investors have recently added to or reduced their stakes in PLPC. Bank of America Corp DE raised its stake in shares of Preformed Line Products by 6.6% during the 2nd quarter. Bank of America Corp DE now owns 1,609 shares of the technology company’s stock worth $257,000 after acquiring an additional 100 shares in the last quarter. Pullen Investment Management LLC grew its holdings in Preformed Line Products by 0.9% in the second quarter. Pullen Investment Management LLC now owns 10,921 shares of the technology company’s stock worth $1,745,000 after purchasing an additional 101 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Preformed Line Products by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 6,677 shares of the technology company’s stock valued at $1,067,000 after purchasing an additional 103 shares during the last quarter. Ausbil Investment Management Ltd lifted its holdings in shares of Preformed Line Products by 1.6% during the 2nd quarter. Ausbil Investment Management Ltd now owns 6,716 shares of the technology company’s stock valued at $1,073,000 after purchasing an additional 108 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Preformed Line Products by 3.5% in the 2nd 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 in the last quarter. 41.19% of the stock is currently owned by institutional investors.

About Preformed Line Products

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.