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 research note issued to investors on Tuesday.

Preformed Line Products Stock Up 1.1 %

NASDAQ PLPC opened at $132.94 on Tuesday. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $142.91. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $651.41 million, a P/E ratio of 19.96 and a beta of 0.62. The stock’s 50-day moving average price is $125.49 and its 200-day moving average price is $125.25.

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

Preformed Line Products Announces Dividend

The firm also recently declared 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 was Tuesday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. Preformed Line Products’s payout ratio is presently 12.01%.

Hedge Funds Weigh In On Preformed Line Products

Several large investors have recently made changes to their positions in PLPC. Apis Capital Advisors LLC bought a new stake in Preformed Line Products during the 2nd quarter valued at approximately $573,000. Easterly Investment Partners LLC purchased a new stake in Preformed Line Products during the 2nd quarter valued at approximately $1,658,000. American Century Companies Inc. lifted its holdings in shares of Preformed Line Products by 82.4% in the second quarter. American Century Companies Inc. now owns 4,822 shares of the technology company’s stock worth $601,000 after buying an additional 2,179 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Preformed Line Products by 50.0% in the second quarter. Los Angeles Capital Management LLC now owns 6,090 shares of the technology company’s stock worth $758,000 after buying an additional 2,030 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Preformed Line Products by 29.0% during the first 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. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

About Preformed Line Products

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.