Preformed Line Products (NASDAQ:PLPC) Sets New 52-Week High – Still a Buy?

Preformed Line Products Company (NASDAQ:PLPC) reached a new 52-week high during trading on Tuesday . The company traded as high as $373.85 and last traded at $365.22, with a volume of 13335 shares trading hands. The stock had previously closed at $357.82.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings lowered Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Freedom Capital lowered Preformed Line Products from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen lowered Preformed Line Products from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Loop Capital set a $275.00 target price on Preformed Line Products in a report on Monday, March 9th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Preformed Line Products presently has an average rating of “Hold” and a consensus price target of $275.00.

Preformed Line Products Stock Performance

The company has a current ratio of 3.01, a quick ratio of 1.78 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.84 billion, a PE ratio of 54.13 and a beta of 0.88. The firm’s 50-day simple moving average is $313.64 and its two-hundred day simple moving average is $261.83.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings data 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 net margin of 4.92% and a return on equity of 8.96%. The firm had revenue of $176.28 million for the quarter, compared to analysts’ expectations of $178.00 million.

Preformed Line Products Dividend Announcement

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

Institutional Trading of Preformed Line Products

Several institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC boosted its holdings in shares of Preformed Line Products by 11.6% during the fourth quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock worth $199,720,000 after purchasing an additional 100,113 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Preformed Line Products by 1.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,511 shares of the technology company’s stock worth $42,665,000 after purchasing an additional 2,768 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Preformed Line Products by 4.8% during the third quarter. Vanguard Group Inc. now owns 162,173 shares of the technology company’s stock worth $31,810,000 after purchasing an additional 7,426 shares during the period. Wasatch Advisors LP purchased a new position in shares of Preformed Line Products during the 1st quarter valued at $30,565,000. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Preformed Line Products by 1.2% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 79,731 shares of the technology company’s stock valued at $15,639,000 after acquiring an additional 913 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 (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.