Preformed Line Products (NASDAQ:PLPC) Sets New 1-Year High - Time to Buy?

Key Points

• Preformed Line Products reached a new 52-week high of $172.00, having increased from a previous close of $161.80, with a trading volume of 38,337 shares.
• Analysts at Wall Street Zen upgraded the company from a "buy" to a "strong-buy" rating.
• The company recently declared a quarterly dividend of $0.20 per share, representing an annualized yield of 0.5%.

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $172.00 and last traded at $172.00, with a volume of 38337 shares changing hands. The stock had previously closed at $161.80.

Analysts Set New Price Targets

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

Preformed Line Products Price Performance

The business's 50 day moving average is $157.29 and its two-hundred day moving average is $144.95. The firm has a market capitalization of $874.78 million, a PE ratio of 20.77 and a beta of 0.79. 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 issued its 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 company also recently disclosed a quarterly dividend, which was paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a $0.80 annualized dividend and a yield of 0.4%. Preformed Line Products's dividend payout ratio (DPR) is currently 9.35%.

Hedge Funds Weigh In On Preformed Line Products

A number of hedge funds have recently bought and sold shares of PLPC. Tower Research Capital LLC TRC increased its position in shares of 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 valued at $48,000 after purchasing an additional 199 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Preformed Line Products during the 2nd quarter valued at approximately $175,000. Southland Equity Partners LLC bought a new position in shares of Preformed Line Products during the 2nd quarter valued at approximately $221,000. OMERS ADMINISTRATION Corp bought a new position in shares of Preformed Line Products during the 2nd quarter valued at approximately $224,000. Finally, Wells Fargo & Company MN grew its stake in shares of 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 valued at $180,000 after acquiring an additional 314 shares during the period. Hedge funds and other institutional investors own 41.19% of the company's stock.

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.