Preformed Line Products (NASDAQ:PLPC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Preformed Line Products (NASDAQ:PLPC) from a buy rating to a strong-buy rating in a report released on Thursday morning.

Preformed Line Products Price Performance

NASDAQ:PLPC traded up $1.94 during trading hours on Thursday, reaching $138.90. 3,891 shares of the company’s stock were exchanged, compared to its average volume of 14,858. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $680.61 million, a P/E ratio of 20.99 and a beta of 0.62. Preformed Line Products has a 12 month low of $109.01 and a 12 month high of $141.66. The business’s 50-day simple moving average is $122.46 and its two-hundred day simple moving average is $124.53.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.54 earnings per share for the quarter. The business had revenue of $146.97 million during the quarter. Preformed Line Products had a return on equity of 7.88% and a net margin of 5.76%.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Tuesday, October 1st. Preformed Line Products’s payout ratio is 12.01%.

Institutional Trading of Preformed Line Products

Several large investors have recently added to or reduced their stakes in PLPC. Rhumbline Advisers grew its holdings in shares of Preformed Line Products by 2.3% during the second quarter. Rhumbline Advisers now owns 3,861 shares of the technology company’s stock valued at $481,000 after buying an additional 86 shares in the last quarter. Private Advisor Group LLC grew its stake in Preformed Line Products by 4.8% during the 3rd quarter. Private Advisor Group LLC now owns 2,755 shares of the technology company’s stock valued at $353,000 after acquiring an additional 125 shares in the last quarter. Koss Olinger Consulting LLC increased its holdings in shares of Preformed Line Products by 3.8% in the 3rd quarter. Koss Olinger Consulting LLC now owns 3,726 shares of the technology company’s stock valued at $477,000 after purchasing an additional 138 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Preformed Line Products by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock worth $1,823,000 after purchasing an additional 192 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Preformed Line Products by 0.3% during the second quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock worth $8,294,000 after purchasing an additional 200 shares during the period. 41.19% of the stock is owned by institutional investors and hedge funds.

About Preformed Line Products

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.