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 note issued to investors on Monday.

Preformed Line Products Stock Performance

PLPC stock opened at $123.43 on Monday. The stock has a market cap of $606.04 million, a P/E ratio of 15.61 and a beta of 0.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.57 and a current ratio of 2.93. The firm has a 50 day simple moving average of $121.37 and a 200 day simple moving average of $124.33. Preformed Line Products has a 52 week low of $104.96 and a 52 week high of $141.66.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.89 earnings per share (EPS) for the quarter. Preformed Line Products had a net margin of 6.90% and a return on equity of 9.83%. The company had revenue of $138.72 million during the quarter.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st were paid 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 yield of 0.65%. Preformed Line Products’s dividend payout ratio (DPR) is currently 9.82%.

Institutional Investors Weigh In On Preformed Line Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. Innealta Capital LLC acquired a new position in Preformed Line Products in the second quarter worth approximately $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Preformed Line Products during the 2nd quarter worth $52,000. Mather Group LLC. bought a new position in shares of Preformed Line Products during the 2nd quarter valued at $64,000. SG Americas Securities LLC acquired a new stake in shares of Preformed Line Products in the 3rd quarter valued at $119,000. Finally, Quest Partners LLC bought a new stake in Preformed Line Products in the second quarter worth $196,000. 41.19% of the stock is owned by hedge funds and other 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.