Preformed Line Products (NASDAQ:PLPC) Hits New 12-Month High – Here’s Why

Preformed Line Products (NASDAQ:PLPC)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $143.00 and last traded at $143.00, with a volume of 7970 shares trading hands. The stock had previously closed at $138.52.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

Preformed Line Products Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The company has a market capitalization of $667.33 million, a price-to-earnings ratio of 20.67 and a beta of 0.62. The business’s 50-day simple moving average is $128.07 and its 200-day simple moving average is $125.62.

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

Preformed Line Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Tuesday, October 1st were given a $0.20 dividend. 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 0.59%. Preformed Line Products’s dividend payout ratio is 12.01%.

Institutional Trading of Preformed Line Products

A number of hedge funds have recently modified their holdings of the company. Innealta Capital LLC bought a new stake in Preformed Line Products during the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC bought a new stake in Preformed Line Products during the 2nd quarter worth approximately $52,000. Mather Group LLC. bought a new position in shares of Preformed Line Products during the 2nd quarter worth approximately $64,000. Truvestments Capital LLC bought a new position in shares of Preformed Line Products during the 3rd quarter worth approximately $103,000. Finally, SG Americas Securities LLC bought a new position in shares of Preformed Line Products during the 3rd quarter worth approximately $119,000. 41.19% of the stock is currently owned by institutional investors and hedge funds.

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.