Preformed Line Products (NASDAQ:PLPC) Hits New 52-Week High - Still a Buy?

Key Points

• Shares hit a 52-week high, trading as high as $305.90 (last $304.18) and rising roughly 8.7% on the move.
• The company beat EPS estimates ($1.72 vs. $1.64) but missed revenue expectations ($173.11M vs. $177M), and currently trades at a PE of 43.05 with very low leverage (debt/equity 0.07).
• Analyst sentiment is mixed: MarketBeat shows a consensus of Strong Buy but the average price target is $275 — notably below the current share price — while brokers have issued both upgrades and downgrades recently.

Shares of Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $305.90 and last traded at $304.1820, with a volume of 30073 shares trading hands. The stock had previously closed at $283.00.

Analyst Ratings Changes

Several brokerages recently weighed in on PLPC. Wall Street Zen downgraded shares of Preformed Line Products from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Freedom Capital raised shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 9th. Loop Capital set a $275.00 target price on shares of Preformed Line Products in a research note on Monday, March 9th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Preformed Line Products in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Strong Buy" and an average price target of $275.00.

Preformed Line Products Stock Up 8.7%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.87 and a current ratio of 3.17. The company has a market cap of $1.51 billion, a PE ratio of 43.05 and a beta of 0.75. The firm has a fifty day simple moving average of $266.01 and a 200 day simple moving average of $234.14.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The technology company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.64 by $0.08. The company had revenue of $173.11 million during the quarter, compared to analysts' expectations of $177.00 million. Preformed Line Products had a return on equity of 9.36% and a net margin of 5.27%.

Preformed Line Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, April 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Preformed Line Products's payout ratio is presently 11.76%.

Institutional Trading of Preformed Line Products

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Preformed Line Products by 1,929.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 548 shares of the technology company's stock worth $113,000 after purchasing an additional 521 shares during the period. Virtu Financial LLC purchased a new stake in shares of Preformed Line Products during the 4th quarter worth about $421,000. Invesco Ltd. grew its holdings in shares of Preformed Line Products by 25.7% during the 4th quarter. Invesco Ltd. now owns 79,299 shares of the technology company's stock worth $16,392,000 after purchasing an additional 16,223 shares during the period. Millennium Management LLC grew its holdings in shares of Preformed Line Products by 303.7% during the 4th quarter. Millennium Management LLC now owns 19,470 shares of the technology company's stock worth $4,025,000 after purchasing an additional 14,647 shares during the period. Finally, Man Group plc grew its holdings in shares of Preformed Line Products by 60.1% during the 4th quarter. Man Group plc now owns 13,630 shares of the technology company's stock worth $2,817,000 after purchasing an additional 5,116 shares during the period. Hedge funds and other institutional investors own 41.19% of the company's stock.

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.

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