Preformed Line Products (NASDAQ:PLPC) Sets New 12-Month High - Here's What Happened

Key Points

• Shares of Preformed Line Products hit a new 52-week high, trading as high as $352.37 and last at about $353.65 on Monday with ~208,000 shares changing hands, exceeding the consensus price target of $275 and carrying a consensus analyst rating of Strong Buy.
• The company reported quarterly EPS of $1.72, beating estimates of $1.64 while revenue of $173.11M slightly missed the $177M consensus; Preformed Line Products has a market cap of $1.70B, a P/E of 48.52, low leverage (debt/equity 0.07) and solid liquidity (quick ratio 1.87, current ratio 3.17).
• Preformed Line Products pays a quarterly dividend of $0.21 (annualized $0.84, yield ~0.2%, payout ratio 11.76%) and about 41.19% of the stock is owned by institutional investors.

Shares of Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $352.37 and last traded at $353.6520, with a volume of 208006 shares trading hands. The stock had previously closed at $351.17.

Wall Street Analyst Weigh In

PLPC has been the topic of several recent analyst reports. Freedom Capital upgraded shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Preformed Line Products in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Preformed Line Products from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Finally, Loop Capital set a $275.00 price target on shares of Preformed Line Products in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and a consensus price target of $275.00.

Preformed Line Products Stock Performance

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 company has a market capitalization of $1.70 billion, a P/E ratio of 48.52 and a beta of 0.75. The business's fifty day simple moving average is $279.61 and its 200-day simple moving average is $245.16.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last announced 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 company had revenue of $173.11 million for the quarter, compared to the consensus estimate of $177.00 million. Preformed Line Products had a net margin of 5.27% and a return on equity of 9.36%.

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Wednesday, April 1st were issued a $0.21 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. Preformed Line Products's payout ratio is 11.76%.

Institutional Trading of Preformed Line Products

Large investors have recently made changes to their positions in the business. Montag A & Associates Inc. bought a new stake in shares of Preformed Line Products in the 3rd quarter worth about $29,000. Huntington National Bank increased its holdings in shares of Preformed Line Products by 181.7% in the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company's stock worth $39,000 after buying an additional 129 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Preformed Line Products by 2,562.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company's stock worth $42,000 after buying an additional 205 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Preformed Line Products by 132.4% in the 4th quarter. Royal Bank of Canada now owns 251 shares of the technology company's stock worth $52,000 after buying an additional 143 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Preformed Line Products in the 3rd quarter worth about $51,000. 41.19% of the stock is currently owned by institutional investors.

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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