Preformed Line Products (NASDAQ:PLPC) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Preformed Line Products (NASDAQ:PLPC) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.

Preformed Line Products Price Performance

Shares of PLPC opened at $132.94 on Tuesday. Preformed Line Products has a twelve month low of $109.01 and a twelve month high of $142.91. The company has a market capitalization of $651.41 million, a P/E ratio of 19.96 and a beta of 0.62. The firm has a 50 day moving average of $125.49 and a 200 day moving average of $125.25. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

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

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.60%. The ex-dividend date was Tuesday, October 1st. Preformed Line Products’s dividend payout ratio is currently 12.01%.

Institutional Trading of Preformed Line Products

A number of institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC bought a new position in Preformed Line Products during the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC bought a new position in shares of Preformed Line Products during the 2nd quarter valued at $52,000. Mather Group LLC. purchased a new position in shares of Preformed Line Products in the 2nd quarter worth $64,000. Truvestments Capital LLC bought a new stake in shares of Preformed Line Products in the third quarter worth $103,000. Finally, SG Americas Securities LLC bought a new stake in shares of Preformed Line Products in the third quarter worth $119,000. 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.