Preformed Line Products (NASDAQ:PLPC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Preformed Line Products (NASDAQ:PLPC - Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

Preformed Line Products Trading Down 0.4%

Preformed Line Products stock traded down $0.49 during mid-day trading on Tuesday, hitting $138.21. The stock had a trading volume of 11,141 shares, compared to its average volume of 18,085. The stock has a 50-day simple moving average of $138.67 and a two-hundred day simple moving average of $135.05. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $682.76 million, a PE ratio of 20.75 and a beta of 0.75. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $154.90.

Preformed Line Products (NASDAQ:PLPC - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share (EPS) for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%. The company had revenue of $148.54 million for the quarter.

Preformed Line Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Tuesday, April 1st. Preformed Line Products's payout ratio is 10.14%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Preformed Line Products by 93.3% during the third quarter. JPMorgan Chase & Co. now owns 8,119 shares of the technology company's stock worth $1,040,000 after buying an additional 3,919 shares during the last quarter. Barclays PLC boosted its stake in Preformed Line Products by 135.6% during the 3rd quarter. Barclays PLC now owns 4,989 shares of the technology company's stock worth $638,000 after acquiring an additional 2,871 shares during the last quarter. Ausbil Investment Management Ltd boosted its stake in Preformed Line Products by 222.8% during the 4th quarter. Ausbil Investment Management Ltd now owns 5,436 shares of the technology company's stock worth $701,000 after acquiring an additional 3,752 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Preformed Line Products by 160.8% in the 4th quarter. American Century Companies Inc. now owns 49,057 shares of the technology company's stock valued at $6,269,000 after buying an additional 30,245 shares during the period. Finally, Private Advisor Group LLC grew its stake in Preformed Line Products by 3.6% in the fourth quarter. Private Advisor Group LLC now owns 2,855 shares of the technology company's stock valued at $365,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds 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.