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

Key Points

• Preformed Line Products (NASDAQ:PLPC) reached a new 52-week high of $198.19, indicating strong market performance with a recent trading volume of 18,379 shares.
• The company reported $2.56 earnings per share and a revenue of $169.60 million for the last quarter, reflecting a net margin of 6.70% and a return on equity of 9.69%.
• Investors will receive a quarterly dividend of $0.20 that equates to an annualized yield of 0.4%, with a current dividend payout ratio of 9.35%.

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $198.19 and last traded at $197.77, with a volume of 18379 shares changing hands. The stock had previously closed at $193.57.

Preformed Line Products Stock Up 1.9%

The firm has a market cap of $970.17 million, a price-to-earnings ratio of 23.03 and a beta of 0.79. The firm's fifty day moving average is $169.37 and its two-hundred day moving average is $150.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.83.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $2.56 earnings per share (EPS) for the quarter. The firm had revenue of $169.60 million for the quarter. Preformed Line Products had a net margin of 6.70% and a return on equity of 9.69%.

Preformed Line Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, July 20th. Investors of record on Tuesday, July 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, July 1st. Preformed Line Products's dividend payout ratio (DPR) is presently 9.35%.

Institutional Trading of Preformed Line Products

A number of hedge funds have recently bought and sold shares of the stock. State of Wyoming bought a new position in Preformed Line Products during the second quarter worth about $63,000. Tower Research Capital LLC TRC raised its holdings in Preformed Line Products by 199.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company's stock worth $48,000 after purchasing an additional 199 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Preformed Line Products by 102.7% in the second quarter. Lazard Asset Management LLC now owns 18,492 shares of the technology company's stock valued at $2,955,000 after acquiring an additional 9,369 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Preformed Line Products by 6.6% during the second quarter. Bank of America Corp DE now owns 1,609 shares of the technology company's stock worth $257,000 after purchasing an additional 100 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Preformed Line Products in the 2nd quarter valued at approximately $175,000. 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.

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