Preformed Line Products (NASDAQ:PLPC) Sets New 1-Year High – What’s Next?

Preformed Line Products Company (NASDAQ:PLPC)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $398.27 and last traded at $397.7440, with a volume of 57512 shares traded. The stock had previously closed at $384.27.

Wall Street Analysts Forecast Growth

PLPC has been the topic of a number of research reports. Loop Capital set a $275.00 target price on shares of Preformed Line Products in a report on Monday, March 9th. Weiss Ratings downgraded shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Freedom Capital lowered shares of Preformed Line Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of Preformed Line Products from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Preformed Line Products currently has a consensus rating of “Hold” and a consensus price target of $275.00.

Preformed Line Products Stock Performance

The stock has a market capitalization of $1.88 billion, a P/E ratio of 55.27 and a beta of 0.90. The stock has a 50 day moving average of $354.40 and a 200 day moving average of $287.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 3.01.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, April 29th. The technology company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.32. Preformed Line Products had a return on equity of 8.96% and a net margin of 4.92%.The company had revenue of $176.28 million for the quarter, compared to analysts’ expectations of $178.00 million.

Preformed Line Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Wednesday, July 1st will be given 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 dividend payout ratio (DPR) is currently 12.09%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLPC. NewEdge Advisors LLC acquired a new stake in shares of Preformed Line Products in the first quarter valued at approximately $338,000. Bank of America Corp DE boosted its position in shares of Preformed Line Products by 26.4% during the first quarter. Bank of America Corp DE now owns 3,165 shares of the technology company’s stock worth $857,000 after buying an additional 661 shares during the period. Royal Bank of Canada grew its holdings in Preformed Line Products by 700.8% in the 1st quarter. Royal Bank of Canada now owns 2,010 shares of the technology company’s stock worth $544,000 after buying an additional 1,759 shares in the last quarter. Ranger Investment Management L.P. bought a new position in Preformed Line Products in the 1st quarter worth approximately $5,069,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Preformed Line Products in the 1st quarter valued at approximately $292,000. 41.19% of the stock is owned by institutional investors and hedge funds.

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.