Preformed Line Products (NASDAQ:PLPC) Reaches New 1-Year High – What’s Next?

Preformed Line Products Company (NASDAQ:PLPC)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $287.97 and last traded at $284.7950, with a volume of 21056 shares trading hands. The stock had previously closed at $279.13.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLPC. Wall Street Zen lowered Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Preformed Line Products in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

Preformed Line Products Trading Down 1.8%

The business has a fifty day moving average of $235.68 and a 200-day moving average of $210.19. 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 company has a market capitalization of $1.34 billion, a P/E ratio of 36.32 and a beta of 0.77.

Preformed Line Products Increases Dividend

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

Institutional Trading of Preformed Line Products

Institutional investors and hedge funds have recently modified their holdings of the stock. Montag A & Associates Inc. bought a new position in shares of Preformed Line Products in the third quarter valued at approximately $29,000. Huntington National Bank raised its position in Preformed Line Products by 181.7% in the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after buying an additional 129 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Preformed Line Products by 2,562.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after acquiring an additional 205 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Preformed Line Products by 199.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after acquiring an additional 199 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Preformed Line Products in the 3rd quarter worth $51,000. 41.19% of the stock is owned by hedge funds and other 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.