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 mid-day trading on Wednesday . The stock traded as high as $167.08 and last traded at $167.08, with a volume of 114245 shares changing hands. The stock had previously closed at $161.03.

Wall Street Analyst Weigh In

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

Preformed Line Products Stock Up 1.2%

The company has a market capitalization of $835.30 million, a price-to-earnings ratio of 21.43 and a beta of 0.77. The company has a quick ratio of 1.81, a current ratio of 3.08 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $145.71 and a 200-day moving average price of $138.72.

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

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, July 20th. Stockholders of record on Tuesday, July 1st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Tuesday, July 1st. Preformed Line Products's dividend payout ratio (DPR) is currently 10.14%.

Hedge Funds Weigh In On Preformed Line Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLPC. Wells Fargo & Company MN boosted its position in Preformed Line Products by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock worth $180,000 after acquiring an additional 314 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Preformed Line Products in the first quarter worth approximately $308,000. Private Advisor Group LLC lifted its position in shares of Preformed Line Products by 3.6% in the fourth 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 in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Preformed Line Products by 121.1% during the first quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company's stock worth $409,000 after purchasing an additional 1,600 shares during the period. Finally, GAMMA Investing LLC grew its position in Preformed Line Products by 30,720.0% during the first quarter. GAMMA Investing LLC now owns 3,082 shares of the technology company's stock valued at $432,000 after purchasing an additional 3,072 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.