Preformed Line Products (NASDAQ:PLPC) Hits New 52-Week High – What’s Next?

Preformed Line Products Company (NASDAQ:PLPC)’s share price reached a new 52-week high on Thursday . The stock traded as high as $251.08 and last traded at $250.9350, with a volume of 31912 shares traded. The stock had previously closed at $244.67.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLPC shares. Wall Street Zen cut Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “buy (b-)” rating on shares of Preformed Line Products in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Preformed Line Products Trading Up 2.4%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 3.09. The firm has a market capitalization of $1.23 billion, a PE ratio of 33.17 and a beta of 0.78. The stock’s 50-day simple moving average is $217.99 and its 200-day simple moving average is $199.39.

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Wednesday, October 29th. The technology company reported $2.09 earnings per share for the quarter. Preformed Line Products had a net margin of 5.62% and a return on equity of 10.09%. The firm had revenue of $178.09 million for the quarter.

Preformed Line Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were paid a dividend of $0.21 per share. This is a positive change from Preformed Line Products’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, January 5th. Preformed Line Products’s payout ratio is 11.13%.

Institutional Trading of Preformed Line Products

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ausbil Investment Management Ltd boosted its holdings in Preformed Line Products by 1.6% in the second quarter. Ausbil Investment Management Ltd now owns 6,716 shares of the technology company’s stock worth $1,073,000 after acquiring an additional 108 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in Preformed Line Products by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 6,677 shares of the technology company’s stock worth $1,067,000 after purchasing an additional 103 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Preformed Line Products by 168.9% in the 2nd quarter. Ritholtz Wealth Management now owns 6,824 shares of the technology company’s stock worth $1,091,000 after purchasing an additional 4,286 shares in the last quarter. TrueMark Investments LLC purchased a new stake in Preformed Line Products during the 2nd quarter valued at about $2,521,000. Finally, Denali Advisors LLC increased its stake in Preformed Line Products by 7.4% during the 2nd quarter. Denali Advisors LLC now owns 6,165 shares of the technology company’s stock valued at $985,000 after purchasing an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

About Preformed Line Products

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.