Preformed Line Products (NASDAQ:PLPC) Upgraded at StockNews.com

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

Preformed Line Products Price Performance

PLPC opened at $136.20 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The stock has a market capitalization of $667.11 million, a P/E ratio of 20.45 and a beta of 0.62. The company’s 50 day simple moving average is $126.29 and its 200-day simple moving average is $125.36. Preformed Line Products has a one year low of $109.01 and a one year high of $142.91.

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

Preformed Line Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.59%. Preformed Line Products’s payout ratio is presently 12.01%.

Institutional Investors Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently modified their holdings of PLPC. Rhumbline Advisers grew its holdings in Preformed Line Products by 2.3% during the 2nd quarter. Rhumbline Advisers now owns 3,861 shares of the technology company’s stock worth $481,000 after acquiring an additional 86 shares during the period. Private Advisor Group LLC grew its stake in shares of Preformed Line Products by 4.8% during the third quarter. Private Advisor Group LLC now owns 2,755 shares of the technology company’s stock worth $353,000 after purchasing an additional 125 shares during the period. Koss Olinger Consulting LLC increased its holdings in Preformed Line Products by 3.8% in the third 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 last quarter. Renaissance Technologies LLC lifted its stake in Preformed Line Products by 0.3% in the second quarter. Renaissance Technologies LLC now owns 66,600 shares of the technology company’s stock valued at $8,294,000 after buying an additional 200 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Preformed Line Products during the 2nd quarter worth about $27,000. 41.19% of the stock is owned by institutional investors.

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.