Preformed Line Products (NASDAQ:PLPC) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Preformed Line Products Company (NASDAQ:PLPC) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $254.95 and traded as high as $351.40. Preformed Line Products shares last traded at $347.12, with a volume of 65,124 shares traded.

Analysts Set New Price Targets

A number of research analysts have commented on PLPC shares. Weiss Ratings downgraded Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Freedom Capital downgraded Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Wall Street Zen downgraded Preformed Line Products from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Loop Capital set a $275.00 target price on Preformed Line Products in a research note on Monday, March 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Preformed Line Products currently has an average rating of “Hold” and an average target price of $275.00.

Preformed Line Products Stock Down 1.9%

The stock has a market cap of $1.70 billion, a PE ratio of 49.99 and a beta of 0.88. The business has a 50 day simple moving average of $302.89 and a 200 day simple moving average of $256.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.01 and a quick ratio of 1.78.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.14 earnings per share (EPS) 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 analysts’ expectations 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Wednesday, April 1st were issued a $0.21 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. Preformed Line Products’s dividend payout ratio is currently 12.09%.

Institutional Investors Weigh In On Preformed Line Products

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new stake in Preformed Line Products in the third quarter worth $1,365,000. GSA Capital Partners LLP bought a new stake in shares of Preformed Line Products during the 3rd quarter worth $670,000. Riverwater Partners LLC bought a new stake in shares of Preformed Line Products during the 3rd quarter worth $628,000. SG Americas Securities LLC bought a new stake in shares of Preformed Line Products during the 3rd quarter worth $467,000. Finally, Topline Capital Management LLC bought a new stake in shares of Preformed Line Products during the 3rd quarter worth $413,000. 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.