Preformed Line Products (NASDAQ:PLPC) Sets New 1-Year High – Time to Buy?

Shares of Preformed Line Products (NASDAQ:PLPC) reached a new 52-week high during trading on Monday . The company traded as high as $146.48 and last traded at $143.95, with a volume of 17704 shares traded. The stock had previously closed at $141.80.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th.

Preformed Line Products Stock Up 1.1 %

The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $131.25 and a two-hundred day simple moving average of $126.52. The company has a market cap of $708.94 million, a PE ratio of 21.73 and a beta of 0.63.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. The firm had revenue of $146.97 million for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th were issued a $0.20 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. Preformed Line Products’s dividend payout ratio is presently 12.01%.

Institutional Trading of Preformed Line Products

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Preformed Line Products by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 32,574 shares of the technology company’s stock valued at $4,172,000 after acquiring an additional 471 shares during the last quarter. FMR LLC grew its stake in shares of Preformed Line Products by 27.7% in the 3rd quarter. FMR LLC now owns 25,091 shares of the technology company’s stock valued at $3,214,000 after buying an additional 5,442 shares during the period. AQR Capital Management LLC increased its holdings in shares of Preformed Line Products by 10.4% during the 2nd quarter. AQR Capital Management LLC now owns 17,936 shares of the technology company’s stock worth $2,234,000 after buying an additional 1,687 shares during the last quarter. Cardinal Capital Management raised its position in shares of Preformed Line Products by 10.8% during the 3rd quarter. Cardinal Capital Management now owns 10,252 shares of the technology company’s stock valued at $1,313,000 after buying an additional 997 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Preformed Line Products by 93.3% in the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company’s stock valued at $1,040,000 after acquiring an additional 3,919 shares during the last quarter. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.