Share Repurchase Plan Approved by Preformed Line Products (PLPC) Board of Directors
Preformed Line Products (NASDAQ:PLPC) announced that its board has approved a stock repurchase plan, which allows the company to repurchase 250,000 shares on Thursday, December 14th, EventVestor reports. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Shares of Preformed Line Products (NASDAQ PLPC) opened at $75.87 on Thursday. The company has a quick ratio of 2.00, a current ratio of 3.15 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $384.35, a PE ratio of 22.67 and a beta of 1.32. Preformed Line Products has a fifty-two week low of $44.50 and a fifty-two week high of $85.63.
Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Friday, November 3rd. The technology company reported $1.23 EPS for the quarter. Preformed Line Products had a return on equity of 7.30% and a net margin of 4.64%. The company had revenue of $99.24 million during the quarter.
In other news, VP J Cecil Curlee, Jr. sold 3,130 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $68.50, for a total transaction of $214,405.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.70% of the stock is currently owned by insiders.
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Preformed Line Products Company Profile
Preformed Line Products Company (PLPC) is a designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators and information industries. The Company’s products include Formed Wire and Related Hardware Products, Protective Closures, Plastic Products and Other Products.
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