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

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded 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 current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $689.83 million, a price-to-earnings ratio of 21.15 and a beta of 0.62. The firm’s fifty day simple moving average is $122.88 and its two-hundred day simple moving average is $124.67.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results 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 for the quarter.

Preformed Line Products Announces Dividend

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

Hedge Funds Weigh In On Preformed Line Products

Several large investors have recently made changes to their positions in the stock. Quest Partners LLC lifted its holdings in shares of Preformed Line Products by 62.4% in the 3rd quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock worth $327,000 after acquiring an additional 981 shares during the last quarter. Summit Global Investments acquired a new position in shares of Preformed Line Products in the 3rd quarter worth approximately $345,000. Private Advisor Group LLC lifted its holdings in shares of Preformed Line Products by 4.8% in the 3rd quarter. Private Advisor Group LLC now owns 2,755 shares of the technology company’s stock worth $353,000 after acquiring an additional 125 shares during the last quarter. Koss Olinger Consulting LLC lifted its holdings in shares of Preformed Line Products by 3.8% in the 3rd quarter. Koss Olinger Consulting LLC now owns 3,726 shares of the technology company’s stock worth $477,000 after acquiring an additional 138 shares during the last quarter. Finally, Cardinal Capital Management lifted its holdings in shares of Preformed Line Products by 10.8% in the 3rd quarter. Cardinal Capital Management now owns 10,252 shares of the technology company’s stock worth $1,313,000 after acquiring an additional 997 shares during 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, 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.