Preformed Line Products (NASDAQ:PLPC) Shares Up 8.6% – What’s Next?

Preformed Line Products Company (NASDAQ:PLPC) traded up 8.6% during mid-day trading on Tuesday . The stock traded as high as $330.22 and last traded at $336.4180. 6,710 shares were traded during trading, a decline of 95% from the average session volume of 144,610 shares. The stock had previously closed at $309.76.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Loop Capital set a $275.00 price objective on Preformed Line Products in a report on Monday, March 9th. Wall Street Zen downgraded Preformed Line Products from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Freedom Capital downgraded Preformed Line Products from a “strong-buy” rating to a “hold” rating in a report on Friday. Finally, Weiss Ratings downgraded Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $275.00.

Preformed Line Products Stock Performance

The company has a current ratio of 3.17, a quick ratio of 1.87 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $285.91 and a two-hundred day simple moving average of $248.94. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 51.00 and a beta of 0.88.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Wednesday, April 29th. The technology company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.32. Preformed Line Products had a return on equity of 8.99% and a net margin of 4.92%.The company had revenue of $176.28 million for the quarter, compared to analyst estimates of $178.00 million.

Preformed Line Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Wednesday, April 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, April 1st. Preformed Line Products’s dividend payout ratio (DPR) is presently 12.09%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Montag A & Associates Inc. bought a new position in shares of Preformed Line Products in the 3rd quarter valued at approximately $29,000. Huntington National Bank grew its holdings 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. grew its holdings in Preformed Line Products by 2,562.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after buying an additional 205 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Preformed Line Products by 199.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after buying an additional 199 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Preformed Line Products in the 3rd quarter valued at approximately $51,000. 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.