Preformed Line Products (NASDAQ:PLPC) Shares Down 6.9% - What's Next?

Key Points

• Shares down 6.9% intraday, trading as low as $283.87 and last at $281.89 versus a prior close of $302.78, on light volume (56,380 shares vs. a 133,597 average, a 58% decline).
• Analysts are mixed but cautious: Loop Capital set a $275 target and MarketBeat reports an average rating of "Strong Buy" with an average price target of $275, alongside recent upgrades and downgrades from other firms.
• Fundamentals show a recent quarter with an EPS beat ($1.72 vs. $1.64) but slight revenue shortfall, a PE of 40.5, market cap of $1.42B, low debt-to-equity (0.07), and a modest quarterly dividend of $0.21 (0.3% yield; ex-dividend Apr 1).

Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) shares traded down 6.9% during mid-day trading on Monday . The company traded as low as $283.87 and last traded at $281.8860. 56,380 shares were traded during trading, a decline of 58% from the average session volume of 133,597 shares. The stock had previously closed at $302.78.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PLPC shares. Loop Capital set a $275.00 target price on shares of Preformed Line Products in a research report on Monday, March 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Preformed Line Products in a report on Friday, March 27th. Freedom Capital raised shares of Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 9th. Finally, Wall Street Zen downgraded Preformed Line Products from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Strong Buy" and an average price target of $275.00.

Preformed Line Products Trading Down 4.2%

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.17 and a quick ratio of 1.87. The firm has a market capitalization of $1.42 billion, a PE ratio of 40.54 and a beta of 0.75. The firm's fifty day moving average is $264.14 and its two-hundred day moving average is $232.96.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last posted its earnings results on Wednesday, March 4th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.64 by $0.08. The firm had revenue of $173.11 million for the quarter, compared to analysts' expectations 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 will be paid on Monday, April 20th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Preformed Line Products's dividend payout ratio (DPR) is currently 11.76%.

Hedge Funds Weigh In On Preformed Line Products

Institutional investors have recently added to or reduced their stakes in the stock. Bosun Asset Management LLC purchased a new position in Preformed Line Products in the second quarter valued at about $903,000. Quantbot Technologies LP lifted its stake in Preformed Line Products by 9,919.7% in the second quarter. Quantbot Technologies LP now owns 7,615 shares of the technology company's stock valued at $1,217,000 after purchasing an additional 7,539 shares during the last quarter. Principal Financial Group Inc. bought a new position in Preformed Line Products during the third quarter valued at $1,365,000. GSA Capital Partners LLP bought a new position in Preformed Line Products during the third quarter valued at $670,000. Finally, Riverwater Partners LLC purchased a new stake in Preformed Line Products in the third quarter worth $628,000. Institutional investors own 41.19% of the company's stock.

Preformed Line Products Company Profile

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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