Preformed Line Products (NASDAQ:PLPC) Sets New 12-Month High - Still a Buy?

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $167.08 and last traded at $167.08, with a volume of 114245 shares traded. The stock had previously closed at $161.03.

Wall Street Analysts Forecast Growth

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

Preformed Line Products Stock Up 1.2%

The firm has a market cap of $835.30 million, a PE ratio of 21.43 and a beta of 0.77. The company has a 50-day simple moving average of $146.31 and a 200-day simple moving average of $139.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.08 and a quick ratio of 1.81.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its quarterly earnings results 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 during the quarter.

Preformed Line Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, July 20th. Investors of record on Tuesday, July 1st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Tuesday, July 1st. Preformed Line Products's dividend payout ratio is presently 10.14%.

Hedge Funds Weigh In On Preformed Line Products

A number of hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake in shares of Preformed Line Products by 28.7% during the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock valued at $180,000 after acquiring an additional 314 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Preformed Line Products during the 1st quarter worth $308,000. New York State Common Retirement Fund raised its position in Preformed Line Products by 121.1% during the 1st quarter. New York State Common Retirement Fund now owns 2,921 shares of the technology company's stock valued at $409,000 after purchasing an additional 1,600 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Preformed Line Products by 30,720.0% in the 1st 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. Finally, Strs Ohio bought a new position in shares of Preformed Line Products during the 1st quarter worth $476,000. 41.19% of the stock is currently 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.