Preformed Line Products (NASDAQ:PLPC) Reaches New 12-Month High - What's Next?

Key Points

• Preformed Line Products reached a new 52-week high on Wednesday, trading at $203.53, with a significant trading volume of 51,491 shares.
• The company's latest earnings report showed an EPS of $2.56 and revenue of $169.60 million, with a net margin of 6.70% and a return on equity of 9.69%.
• Institutional investors now hold 41.19% of Preformed Line Products' shares, with significant increases from firms like Tower Research Capital and Lazard Asset Management.

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $203.53 and last traded at $201.51, with a volume of 51491 shares traded. The stock had previously closed at $197.66.

Preformed Line Products Stock Down 2.1%

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 $992.81 million, a PE ratio of 23.57 and a beta of 0.79. The firm has a fifty day moving average of $173.99 and a 200 day moving average of $154.59.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last announced its 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Wednesday, October 1st will be given a $0.20 dividend. The ex-dividend date is Wednesday, October 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

Several large investors have recently bought and sold shares of PLPC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Preformed Line Products by 15,654.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 217,571 shares of the technology company's stock valued at $30,480,000 after acquiring an additional 216,190 shares during the period. Vanguard Group Inc. increased its stake in shares of Preformed Line Products by 172.8% in the first quarter. Vanguard Group Inc. now owns 185,201 shares of the technology company's stock valued at $25,945,000 after buying an additional 117,323 shares during the period. Nuveen LLC acquired a new stake in Preformed Line Products during the 1st quarter valued at approximately $15,339,000. American Century Companies Inc. lifted its holdings in shares of Preformed Line Products by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 81,774 shares of the technology company's stock worth $13,068,000 after purchasing an additional 9,637 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in Preformed Line Products by 9.3% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 78,818 shares of the technology company's stock valued at $12,596,000 after buying an additional 6,718 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

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.