Preformed Line Products (NASDAQ:PLPC) Reaches New 1-Year High - What's Next?

Key Points

• Preformed Line Products (PLPC) reached a new 52-week high, trading as high as $324.55 and last at $320.14 on volume of roughly 99,446 shares.
• Analyst consensus is a Strong Buy, but the consensus price target of $275 is below the current share price, and recent research notes show a mix of upgrades and downgrades.
• The company reported quarterly EPS of $1.72, beating estimates by $0.08 while revenue slightly missed, and announced a quarterly dividend of $0.21 (annualized $0.84, yield ~0.3%).

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $324.55 and last traded at $320.1440, with a volume of 99446 shares traded. The stock had previously closed at $311.62.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLPC. Loop Capital set a $275.00 target price on Preformed Line Products in a research note on Monday, March 9th. Freedom Capital upgraded Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 9th. Wall Street Zen downgraded Preformed Line Products from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, Weiss Ratings reiterated 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 issued a Buy rating to the company. According to data from MarketBeat.com, Preformed Line Products currently has a consensus rating of "Strong Buy" and a consensus price target of $275.00.

Preformed Line Products Price Performance

The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 44.94 and a beta of 0.75. 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 business has a 50 day simple moving average of $270.59 and a 200-day simple moving average of $237.24.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.08. The business had revenue of $173.11 million during the quarter, compared to the consensus estimate 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. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Preformed Line Products's dividend payout ratio (DPR) is currently 11.76%.

Hedge Funds Weigh In On Preformed Line Products

Several hedge funds have recently modified their holdings of PLPC. Prudential Financial Inc. bought a new position in shares of Preformed Line Products during the 2nd quarter worth approximately $383,000. Hsbc Holdings PLC bought a new position in shares of Preformed Line Products during the 2nd quarter worth approximately $286,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Preformed Line Products by 45.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 23,497 shares of the technology company's stock worth $3,755,000 after buying an additional 7,332 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Preformed Line Products by 7.4% during the 2nd quarter. First Trust Advisors LP now owns 24,412 shares of the technology company's stock worth $3,901,000 after buying an additional 1,689 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Preformed Line Products in the second quarter valued at approximately $585,000. 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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