Preformed Line Products (NASDAQ:PLPC) Upgraded by StockNews.com to Strong-Buy

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

Preformed Line Products Stock Performance

Preformed Line Products stock opened at $129.84 on Monday. Preformed Line Products has a fifty-two week low of $104.96 and a fifty-two week high of $184.82. The stock has a market cap of $638.55 million, a price-to-earnings ratio of 12.56 and a beta of 0.75. The stock’s 50 day simple moving average is $126.34 and its two-hundred day simple moving average is $127.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.73 and a current ratio of 3.15.

Preformed Line Products (NASDAQ:PLPCGet Free Report) last issued its quarterly earnings results on Thursday, March 7th. The technology company reported $1.29 earnings per share (EPS) for the quarter. The company had revenue of $145.60 million during the quarter. Preformed Line Products had a net margin of 8.20% and a return on equity of 12.67%.

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Tuesday, April 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.62%. Preformed Line Products’s dividend payout ratio is currently 7.74%.

Hedge Funds Weigh In On Preformed Line Products

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Preformed Line Products by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 367,708 shares of the technology company’s stock valued at $49,222,000 after purchasing an additional 5,913 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Preformed Line Products by 5.0% in the first quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock worth $9,398,000 after acquiring an additional 3,489 shares during the period. Invesco Ltd. raised its holdings in shares of Preformed Line Products by 215.5% during the third quarter. Invesco Ltd. now owns 68,311 shares of the technology company’s stock valued at $11,106,000 after purchasing an additional 46,656 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Preformed Line Products by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 36,098 shares of the technology company’s stock valued at $5,869,000 after purchasing an additional 351 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Preformed Line Products by 84.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,294 shares of the technology company’s stock valued at $5,088,000 after purchasing an additional 14,363 shares during the period. Hedge funds and other institutional investors own 41.19% of the company’s stock.

About Preformed Line Products

(Get Free Report)

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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