Preformed Line Products (NASDAQ:PLPC) Reaches New 1-Year High - Here's What Happened

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $161.31 and last traded at $159.93, with a volume of 406474 shares traded. The stock had previously closed at $153.23.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Preformed Line Products from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th.

Preformed Line Products Stock Up 0.5%

The stock has a market cap of $789.46 million, a P/E ratio of 20.25 and a beta of 0.75. The stock's 50-day moving average is $144.03 and its 200-day moving average is $138.12. The company has a current ratio of 3.08, a quick ratio of 1.81 and a debt-to-equity ratio of 0.06.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $2.33 EPS for the quarter. Preformed Line Products had a return on equity of 9.16% and a net margin of 6.49%. The company had revenue of $148.54 million for the quarter.

Preformed Line Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Tuesday, July 1st. Preformed Line Products's payout ratio is 10.14%.

Institutional Trading of Preformed Line Products

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Preformed Line Products by 30,720.0% in the first quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company's stock worth $432,000 after buying an additional 3,072 shares during the period. American Century Companies Inc. lifted its position in shares of 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 valued at $6,269,000 after acquiring an additional 30,245 shares in the last quarter. Private Advisor Group LLC boosted its stake in Preformed Line Products by 3.6% in the 4th quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company's stock worth $365,000 after purchasing an additional 100 shares during the period. Proficio Capital Partners LLC purchased a new position in Preformed Line Products during the 4th quarter worth approximately $1,764,000. Finally, Victory Capital Management Inc. grew its position in Preformed Line Products by 1.6% during the 4th quarter. Victory Capital Management Inc. now owns 17,293 shares of the technology company's stock worth $2,210,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 41.19% of the company's stock.

About Preformed Line Products

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.