Preformed Line Products (NASDAQ:PLPC) Reaches New 52-Week High - Should You 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)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $172.00 and last traded at $172.00, with a volume of 38337 shares traded. 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 research note on Tuesday, May 13th.

Preformed Line Products Stock Performance

The company has a quick ratio of 1.83, a current ratio of 3.08 and a debt-to-equity ratio of 0.06. The stock has a market cap of $846.24 million, a price-to-earnings ratio of 20.09 and a beta of 0.79. The company's 50-day simple moving average is $154.53 and its 200-day simple moving average is $144.04.

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

Preformed Line Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, July 20th. Shareholders of record on Tuesday, July 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, July 1st. Preformed Line Products's dividend payout ratio is 9.35%.

Institutional Trading of Preformed Line Products

A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its holdings 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 worth $180,000 after acquiring an additional 314 shares during the period. Southland Equity Partners LLC bought a new position in shares of Preformed Line Products during the 2nd quarter worth about $221,000. Franklin Resources Inc. lifted its holdings in shares of Preformed Line Products by 17.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,783 shares of the technology company's stock worth $285,000 after acquiring an additional 259 shares during the period. R Squared Ltd bought a new position in shares of Preformed Line Products during the 2nd quarter worth about $297,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Preformed Line Products during the 1st quarter worth about $308,000. 41.19% of the stock is owned by institutional investors.

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.

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