Preformed Line Products (NASDAQ:PLPC) Downgraded to “Buy” at StockNews.com

StockNews.com lowered shares of Preformed Line Products (NASDAQ:PLPC) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

Preformed Line Products Stock Performance

PLPC stock opened at $127.78 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 3.15 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $628.42 million, a price-to-earnings ratio of 12.36 and a beta of 0.75. Preformed Line Products has a 12 month low of $104.96 and a 12 month high of $184.82. The firm has a 50 day moving average of $126.47 and a two-hundred day moving average of $128.07.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.94 earnings per share (EPS) for the quarter. The business had revenue of $140.90 million during the quarter. Preformed Line Products had a net margin of 8.20% and a return on equity of 12.67%.

Preformed Line Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Tuesday, April 2nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Monday, April 1st. Preformed Line Products’s dividend payout ratio is currently 7.74%.

Hedge Funds Weigh In On Preformed Line Products

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in shares of Preformed Line Products by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 36,098 shares of the technology company’s stock valued at $5,869,000 after buying an additional 351 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Preformed Line Products in the 3rd quarter valued at $660,000. Jump Financial LLC raised its stake in shares of Preformed Line Products by 4.7% in the 3rd quarter. Jump Financial LLC now owns 2,200 shares of the technology company’s stock valued at $358,000 after buying an additional 99 shares in the last quarter. Swiss National Bank raised its stake in shares of Preformed Line Products by 1.9% in the 3rd quarter. Swiss National Bank now owns 5,453 shares of the technology company’s stock valued at $887,000 after buying an additional 100 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Preformed Line Products by 90.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 13,310 shares of the technology company’s stock valued at $2,164,000 after buying an additional 6,336 shares in the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

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.