Preformed Line Products (NASDAQ:PLPC) Trading Up 5.5% – Still a Buy?

Preformed Line Products (NASDAQ:PLPC)’s share price shot up 5.5% during mid-day trading on Friday . The stock traded as high as $133.90 and last traded at $138.28. 3,144 shares were traded during trading, a decline of 59% from the average session volume of 7,641 shares. The stock had previously closed at $131.13.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

Preformed Line Products Trading Up 5.4 %

The business’s 50-day moving average price is $130.75 and its two-hundred day moving average price is $125.83. 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 company has a market capitalization of $677.30 million, a P/E ratio of 20.76 and a beta of 0.63.

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

Preformed Line Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $0.80 annualized dividend and a yield of 0.58%. Preformed Line Products’s dividend payout ratio is currently 12.01%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PLPC. Truvestments Capital LLC acquired a new position in Preformed Line Products during the 3rd quarter worth approximately $103,000. SG Americas Securities LLC bought a new position in Preformed Line Products in the third quarter valued at $119,000. BNP Paribas Financial Markets increased its stake in Preformed Line Products by 13.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock valued at $304,000 after buying an additional 274 shares during the last quarter. Quest Partners LLC lifted its position in Preformed Line Products by 62.4% during the 3rd quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock worth $327,000 after buying an additional 981 shares in the last quarter. Finally, Summit Global Investments acquired a new position in shares of Preformed Line Products during the 3rd quarter worth about $345,000. 41.19% of the stock is owned by institutional investors and hedge funds.

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.