Preformed Line Products (NASDAQ:PLPC) Sets New 1-Year High – Time to Buy?

Preformed Line Products (NASDAQ:PLPC) shares reached a new 52-week high on Friday . The company traded as high as $143.11 and last traded at $143.11, with a volume of 151 shares changing hands. The stock had previously closed at $136.96.

Analysts Set New Price Targets

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

Preformed Line Products Stock Up 2.8 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The business’s fifty day simple moving average is $122.88 and its two-hundred day simple moving average is $124.67. The company has a market cap of $689.83 million, a PE ratio of 21.15 and a beta of 0.62.

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

Preformed Line Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.57%. Preformed Line Products’s dividend payout ratio is currently 12.01%.

Institutional Trading of Preformed Line Products

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Preformed Line Products by 5.0% during the first quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock worth $9,398,000 after purchasing an additional 3,489 shares in the last quarter. Renaissance Technologies LLC boosted its position in Preformed Line Products by 0.3% during the second quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock worth $8,294,000 after acquiring an additional 200 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Preformed Line Products by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 27,390 shares of the technology company’s stock worth $3,411,000 after acquiring an additional 984 shares during the last quarter. CM Management LLC boosted its position in Preformed Line Products by 48.6% during the first quarter. CM Management LLC now owns 26,000 shares of the technology company’s stock worth $3,345,000 after acquiring an additional 8,500 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Preformed Line Products by 10.4% during the second quarter. AQR Capital Management LLC now owns 17,936 shares of the technology company’s stock worth $2,234,000 after acquiring an additional 1,687 shares during the last quarter. Hedge funds and other 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.