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 released on Tuesday morning.

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $138.70 on Tuesday. The firm’s 50-day moving average price is $138.67 and its 200-day moving average price is $135.05. Preformed Line Products has a 1-year low of $109.01 and a 1-year high of $154.90. The firm has a market capitalization of $685.18 million, a P/E ratio of 20.83 and a beta of 0.75. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06.

Preformed Line Products (NASDAQ:PLPC) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $2.33 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 firm had revenue of $148.54 million for the quarter.

Preformed Line Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Tuesday, April 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, April 1st. Preformed Line Products’s payout ratio is presently 10.14%.

Institutional Investors Weigh In On Preformed Line Products

Several hedge funds and other institutional investors have recently made changes to their positions in PLPC. Vanguard Group Inc. increased its position in shares of Preformed Line Products by 172.8% during the first quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company’s stock worth $25,945,000 after acquiring an additional 117,323 shares in the last quarter. Nuveen LLC bought a new stake in Preformed Line Products in the 1st quarter worth about $15,339,000. American Century Companies Inc. grew its position in Preformed Line Products by 160.8% in the 4th quarter. American Century Companies Inc. now owns 49,057 shares of the technology company’s stock worth $6,269,000 after purchasing an additional 30,245 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Preformed Line Products in the 4th quarter worth about $1,764,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Preformed Line Products in the 4th quarter worth about $1,712,000. 41.19% of the stock is owned by institutional investors.

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.