Preformed Line Products (NASDAQ:PLPC) Hits New 12-Month High – Here’s Why

Shares of Preformed Line Products (NASDAQ:PLPC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $143.00 and last traded at $143.00, with a volume of 7970 shares. The stock had previously closed at $138.52.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th.

Preformed Line Products Price Performance

The stock has a market cap of $667.33 million, a P/E ratio of 20.67 and a beta of 0.62. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $128.07 and its 200-day simple moving average is $125.62.

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

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, October 1st. Preformed Line Products’s payout ratio is 12.01%.

Institutional Investors Weigh In On Preformed Line Products

Large investors have recently made changes to their positions in the company. Apis Capital Advisors LLC bought a new stake in shares of Preformed Line Products in the 2nd quarter worth about $573,000. Easterly Investment Partners LLC acquired a new position in Preformed Line Products during the 2nd quarter worth about $1,658,000. American Century Companies Inc. lifted its position in Preformed Line Products by 82.4% during the 2nd quarter. American Century Companies Inc. now owns 4,822 shares of the technology company’s stock worth $601,000 after buying an additional 2,179 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Preformed Line Products by 50.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 6,090 shares of the technology company’s stock worth $758,000 after buying an additional 2,030 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in Preformed Line Products during the 2nd quarter worth about $27,000. 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.