Preformed Line Products (NASDAQ:PLPC) Upgraded at StockNews.com

StockNews.com upgraded shares of Preformed Line Products (NASDAQ:PLPC) from a buy rating to a strong-buy rating in a research report released on Thursday.

Preformed Line Products Stock Up 2.8 %

PLPC opened at $140.84 on Thursday. Preformed Line Products has a one year low of $109.01 and a one year high of $141.66. The company has a market cap of $689.83 million, a price-to-earnings ratio of 21.15 and a beta of 0.62. The business’s fifty day moving average is $122.88 and its two-hundred day moving average is $124.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81.

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

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Tuesday, October 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 annualized dividend and a yield of 0.57%. Preformed Line Products’s payout ratio is currently 12.01%.

Institutional Trading of Preformed Line Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLPC. Vanguard Group Inc. increased its holdings in shares of Preformed Line Products by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock worth $9,398,000 after buying an additional 3,489 shares during the last quarter. Renaissance Technologies LLC increased its position in Preformed Line Products by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock worth $8,294,000 after purchasing an additional 200 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Preformed Line Products by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company’s stock valued at $3,411,000 after buying an additional 984 shares in the last quarter. CM Management LLC grew its stake in Preformed Line Products by 48.6% during the first quarter. CM Management LLC now owns 26,000 shares of the technology company’s stock worth $3,345,000 after buying an additional 8,500 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Preformed Line Products by 10.4% in the second quarter. AQR Capital Management LLC now owns 17,936 shares of the technology company’s stock worth $2,234,000 after acquiring an additional 1,687 shares in the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

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.