Preformed Line Products (NASDAQ:PLPC) Stock Price Up 10.5% – Still a Buy?

Preformed Line Products Company (NASDAQ:PLPC)’s share price traded up 10.5% during trading on Tuesday. The stock traded as high as $307.50 and last traded at $307.94. 76,012 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 113,442 shares. The stock had previously closed at $278.68.

Analyst Upgrades and Downgrades

PLPC has been the subject of a number of research analyst reports. Wall Street Zen upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Weiss Ratings lowered shares of Preformed Line Products from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Finally, Freedom Capital raised shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and an average target price of $275.00.

Preformed Line Products Trading Up 10.5%

The company has a market cap of $1.51 billion, a PE ratio of 25.86 and a beta of 0.90. The company has a quick ratio of 1.88, a current ratio of 2.99 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $389.15 and a 200-day simple moving average of $341.97.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Wednesday, October 28th. The technology company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.37 by $0.19. Preformed Line Products had a return on equity of 12.16% and a net margin of 7.58%. The business had revenue of $209.50 million during the quarter, compared to analyst estimates of $215.00 million.

Preformed Line Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Thursday, October 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Thursday, October 1st. Preformed Line Products’s dividend payout ratio is currently 7.05%.

Insider Activity

In other news, Director Glen E. Corlett sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 33.00% of the company’s stock.

Institutional Investors Weigh In On Preformed Line Products

Several institutional investors have recently added to or reduced their stakes in PLPC. Nykredit A S purchased a new stake in shares of Preformed Line Products in the second quarter valued at about $30,000. Sterling Capital Management LLC raised its position in shares of Preformed Line Products by 844.4% during the 3rd quarter. Sterling Capital Management LLC now owns 85 shares of the technology company’s stock worth $35,000 after purchasing an additional 76 shares during the last quarter. Heritage Family Offices LLP acquired a new stake in shares of Preformed Line Products during the third quarter valued at $44,000. IFP Advisors Inc grew its stake in Preformed Line Products by 142.5% in the 3rd quarter. IFP Advisors Inc now owns 194 shares of the technology company’s stock worth $79,000 after acquiring an additional 114 shares during the period. Finally, Avalon Trust Co acquired a new position in Preformed Line Products in the second quarter valued at $82,000. Hedge funds and other institutional investors own 41.19% of the company’s stock.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) designs and manufactures products and systems used to construct, maintain and protect overhead and underground networks. The company serves the telecommunications, energy, data communications, cable television, renewable energy and transportation markets.

Its product portfolio includes formed-wire products, fiber-optic cable hardware, connectors, splicing and closure systems, protective devices, enclosures and other network-infrastructure components.