Preformed Line Products Company (PLPC) Announces $0.20 Quarterly Dividend
Preformed Line Products Company (NASDAQ:PLPC) announced a quarterly dividend on Monday, December 18th, Wall Street Journal reports. Stockholders of record on Tuesday, January 2nd will be paid a dividend of 0.20 per share by the technology company on Friday, January 19th. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, December 29th.
Shares of Preformed Line Products (NASDAQ:PLPC) opened at $75.49 on Tuesday. Preformed Line Products has a twelve month low of $44.50 and a twelve month high of $85.63. The company has a current ratio of 3.15, a quick ratio of 2.00 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $380.33, a price-to-earnings ratio of 22.43 and a beta of 1.32.
Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Friday, November 3rd. The technology company reported $1.23 EPS for the quarter. Preformed Line Products had a return on equity of 7.30% and a net margin of 4.64%. The firm had revenue of $99.24 million during the quarter.
In other news, VP J Cecil Curlee, Jr. sold 3,130 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $68.50, for a total transaction of $214,405.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 37.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PLPC. State Street Corp lifted its holdings in shares of Preformed Line Products by 6.6% during the 2nd quarter. State Street Corp now owns 44,133 shares of the technology company’s stock valued at $2,051,000 after purchasing an additional 2,722 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Preformed Line Products by 73.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,494 shares of the technology company’s stock valued at $162,000 after purchasing an additional 1,479 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Preformed Line Products by 10.8% during the 2nd quarter. California State Teachers Retirement System now owns 5,603 shares of the technology company’s stock valued at $260,000 after purchasing an additional 544 shares during the last quarter. Hedge funds and other institutional investors own 44.88% of the company’s stock.
Preformed Line Products announced that its Board of Directors has approved a stock repurchase plan on Thursday, December 14th that allows the company to buyback 250,000 shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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About Preformed Line Products
Preformed Line Products Company (PLPC) is a designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators and information industries. The Company’s products include Formed Wire and Related Hardware Products, Protective Closures, Plastic Products and Other Products.
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