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

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

Preformed Line Products Stock Performance

PLPC opened at $136.20 on Tuesday. The company has a market capitalization of $667.11 million, a price-to-earnings ratio of 20.45 and a beta of 0.62. The business’s 50-day moving average price is $126.29 and its two-hundred day moving average price is $125.36. Preformed Line Products has a 1 year low of $109.01 and a 1 year high of $142.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56.

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

Preformed Line Products Announces Dividend

The business also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Tuesday, October 1st. Preformed Line Products’s dividend payout ratio (DPR) is 12.01%.

Institutional Trading of Preformed Line Products

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Preformed Line Products by 29.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,231 shares of the technology company’s stock worth $416,000 after acquiring an additional 726 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Preformed Line Products by 6.8% in the first quarter. Russell Investments Group Ltd. now owns 4,003 shares of the technology company’s stock valued at $515,000 after purchasing an additional 254 shares during the period. Vanguard Group Inc. lifted its stake in shares of Preformed Line Products by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock worth $9,398,000 after buying an additional 3,489 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Preformed Line Products during the 2nd quarter worth about $64,000. Finally, Cardinal Capital Management grew its stake in Preformed Line Products by 13.4% in the 2nd quarter. Cardinal Capital Management now owns 9,255 shares of the technology company’s stock valued at $1,153,000 after buying an additional 1,097 shares during the last quarter. 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.