Preformed Line Products (NASDAQ:PLPC) Reaches 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%.

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

Preformed Line Products Stock Performance

The company has a 50-day moving average price of $171.25 and a two-hundred day moving average price of $152.41. The company has a current ratio of 3.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $972.49 million, a P/E ratio of 23.09 and a beta of 0.79.

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

Preformed Line Products Announces Dividend

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

Institutional Trading of Preformed Line Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Preformed Line Products by 15,654.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,571 shares of the technology company's stock valued at $30,480,000 after buying an additional 216,190 shares in the last quarter. Vanguard Group Inc. increased its position in Preformed Line Products by 172.8% in the 1st quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company's stock valued at $25,945,000 after buying an additional 117,323 shares in the last quarter. Nuveen LLC bought a new stake in Preformed Line Products in the 1st quarter valued at about $15,339,000. American Century Companies Inc. increased its position in Preformed Line Products by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 81,774 shares of the technology company's stock valued at $13,068,000 after buying an additional 9,637 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Preformed Line Products by 9.3% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 78,818 shares of the technology company's stock valued at $12,596,000 after purchasing an additional 6,718 shares during the last quarter. 41.19% of the stock is owned by institutional investors.

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.