Preformed Line Products (NASDAQ:PLPC) Shares Cross Above 200-Day Moving Average – What’s Next?

Shares of Preformed Line Products Company (NASDAQ:PLPC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $161.85 and traded as high as $221.09. Preformed Line Products shares last traded at $219.23, with a volume of 103,813 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Preformed Line Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Preformed Line Products presently has a consensus rating of “Buy”.

Preformed Line Products Stock Up 2.7%

The company has a current ratio of 3.08, a quick ratio of 1.83 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.08 billion, a PE ratio of 25.61 and a beta of 0.75. The business’s 50-day simple moving average is $191.63 and its 200 day simple moving average is $161.85.

Preformed Line Products (NASDAQ:PLPC) last posted its earnings results on Wednesday, July 30th. The technology company reported $2.56 EPS for the quarter. The business had revenue of $169.60 million for the quarter. Preformed Line Products had a net margin of 6.70% and a return on equity of 9.69%.

Preformed Line Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.4%. Preformed Line Products’s dividend payout ratio (DPR) is 9.35%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its position in shares of Preformed Line Products by 6.6% in the 2nd quarter. Bank of America Corp DE now owns 1,609 shares of the technology company’s stock worth $257,000 after buying an additional 100 shares during the last quarter. Pullen Investment Management LLC grew its position in shares of Preformed Line Products by 0.9% in the 2nd quarter. Pullen Investment Management LLC now owns 10,921 shares of the technology company’s stock worth $1,745,000 after buying an additional 101 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Preformed Line Products by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 6,677 shares of the technology company’s stock worth $1,067,000 after buying an additional 103 shares during the last quarter. Ausbil Investment Management Ltd grew its position in shares of Preformed Line Products by 1.6% in the 2nd quarter. Ausbil Investment Management Ltd now owns 6,716 shares of the technology company’s stock worth $1,073,000 after buying an additional 108 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Preformed Line Products by 3.5% in the 2nd quarter. Quantinno Capital Management LP now owns 3,823 shares of the technology company’s stock worth $611,000 after buying an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

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.