Preformed Line Products (NASDAQ:PLPC) Sets New 12-Month High – Should You Buy?

Preformed Line Products Company (NASDAQ:PLPC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $408.42 and last traded at $410.8820, with a volume of 69567 shares trading hands. The stock had previously closed at $404.71.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Freedom Capital downgraded Preformed Line Products from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Wall Street Zen upgraded Preformed Line Products from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Loop Capital set a $275.00 price objective on Preformed Line Products in a research note on Monday, March 9th. Finally, Weiss Ratings lowered shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $275.00.

Preformed Line Products Trading Down 6.3%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.78 and a current ratio of 3.01. The company’s 50-day moving average price is $364.61 and its 200-day moving average price is $294.84. The firm has a market capitalization of $1.80 billion, a PE ratio of 52.52 and a beta of 0.88.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, April 29th. The technology company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.82 by $0.32. The firm had revenue of $176.28 million for the quarter, compared to analyst estimates of $178.00 million. Preformed Line Products had a return on equity of 8.96% and a net margin of 4.92%.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, July 1st. Preformed Line Products’s dividend payout ratio (DPR) is 12.09%.

Hedge Funds Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its holdings in shares of Preformed Line Products by 11.6% in the 4th quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company’s stock valued at $199,720,000 after buying an additional 100,113 shares in the last quarter. UBS Group AG raised its stake in Preformed Line Products by 199.2% during the 4th quarter. UBS Group AG now owns 22,629 shares of the technology company’s stock worth $4,678,000 after acquiring an additional 15,067 shares in the last quarter. Round Rock Advisors LLC raised its stake in Preformed Line Products by 66.0% during the 4th quarter. Round Rock Advisors LLC now owns 7,805 shares of the technology company’s stock worth $1,613,000 after acquiring an additional 3,102 shares in the last quarter. Riverwater Partners LLC lifted its position in Preformed Line Products by 73.0% in the fourth quarter. Riverwater Partners LLC now owns 5,544 shares of the technology company’s stock valued at $1,146,000 after acquiring an additional 2,340 shares during the last quarter. Finally, Topline Capital Management LLC acquired a new position in Preformed Line Products in the third quarter valued at $413,000. 41.19% of the stock is owned by institutional investors and hedge funds.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.