Preformed Line Products (NASDAQ:PLPC) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Preformed Line Products Company (NASDAQ:PLPC) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $210.19 and traded as high as $280.60. Preformed Line Products shares last traded at $279.13, with a volume of 67,892 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a report on Monday, December 29th. Wall Street Zen cut shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Preformed Line Products Stock Performance

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 stock has a 50 day moving average of $235.68 and a 200 day moving average of $210.19. The stock has a market capitalization of $1.37 billion, a P/E ratio of 36.97 and a beta of 0.77.

Preformed Line Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were paid a $0.21 dividend. The ex-dividend date was Monday, January 5th. This is an increase from Preformed Line Products’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Preformed Line Products’s dividend payout ratio (DPR) is 11.13%.

Hedge Funds Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bosun Asset Management LLC bought a new position in Preformed Line Products in the 2nd quarter valued at about $903,000. TrueMark Investments LLC acquired a new stake in shares of Preformed Line Products in the 2nd quarter worth approximately $2,521,000. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Preformed Line Products by 9.3% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 78,818 shares of the technology company’s stock valued at $12,596,000 after acquiring an additional 6,718 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Preformed Line Products by 13.4% during the second quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock valued at $13,068,000 after acquiring an additional 9,637 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of Preformed Line Products by 9,919.7% during the second quarter. Quantbot Technologies LP now owns 7,615 shares of the technology company’s stock valued at $1,217,000 after acquiring an additional 7,539 shares during the period. 41.19% of the stock is owned by institutional investors.

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.