Preformed Line Products (NASDAQ:PLPC) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Preformed Line Products shares have crossed above their 200-day moving average of $161.85, reaching a trading high of $221.09, and last traded at $219.23.
• Wall Street analysts have upgraded the stock's rating from "hold" to "buy", with a consensus rating of "Buy" based on positive outlooks for growth.
• The company announced a quarterly dividend of $0.20, reflecting an annualized dividend yield of 0.4% and a dividend payout ratio of 9.35%.

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $161.85 and traded as high as $221.09. Preformed Line Products shares last traded at $219.23, with a volume of 103,813 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Preformed Line Products from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Preformed Line Products presently has a consensus rating of "Buy".

Preformed Line Products Trading Up 2.7%

The company has a market cap of $1.08 billion, a PE ratio of 25.61 and a beta of 0.75. The stock's 50 day moving average is $191.63 and its 200-day moving average is $161.85. The company has a quick ratio of 1.83, a current ratio of 3.08 and a debt-to-equity ratio of 0.06.

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

Preformed Line Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Wednesday, October 1st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.4%. Preformed Line Products's dividend payout ratio is currently 9.35%.

Institutional Investors Weigh In On Preformed Line Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in shares of Preformed Line Products by 199.0% in the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company's stock valued at $48,000 after acquiring an additional 199 shares during the period. State of Wyoming purchased a new position in Preformed Line Products in the 2nd quarter worth about $63,000. Raymond James Financial Inc. purchased a new position in Preformed Line Products in the 2nd quarter worth about $175,000. Southland Equity Partners LLC purchased a new position in Preformed Line Products in the 2nd quarter worth about $221,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Preformed Line Products in the 2nd quarter worth about $224,000. 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.

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