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

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

Preformed Line Products Stock Up 1.4 %

PLPC stock traded up $1.94 during midday trading on Thursday, hitting $138.90. 3,891 shares of the company’s stock were exchanged, compared to its average volume of 14,858. The company has a current ratio of 2.81, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $122.46 and a 200-day moving average price of $124.53. The stock has a market capitalization of $680.61 million, a price-to-earnings 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.

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

Preformed Line Products Announces Dividend

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

Hedge Funds Weigh In On Preformed Line Products

A number of hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of Preformed Line Products during the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC bought a new stake in Preformed Line Products during the second quarter worth approximately $52,000. Mather Group LLC. acquired a new stake in Preformed Line Products in the second quarter worth approximately $64,000. SG Americas Securities LLC acquired a new stake in Preformed Line Products in the third quarter worth approximately $119,000. Finally, Quest Partners LLC bought a new position in Preformed Line Products during the 2nd quarter valued at $196,000. 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.