Preformed Line Products (NASDAQ:PLPC) Issues Earnings Results

Preformed Line Products (NASDAQ:PLPC) posted its earnings results on Wednesday. The technology company reported $1.76 EPS for the quarter, FiscalAI reports. The company had revenue of $173.11 million during the quarter. Preformed Line Products had a net margin of 5.62% and a return on equity of 10.09%.

Preformed Line Products Stock Performance

Shares of NASDAQ PLPC traded up $4.40 during trading hours on Wednesday, hitting $255.59. 133,935 shares of the stock were exchanged, compared to its average volume of 117,924. Preformed Line Products has a one year low of $118.99 and a one year high of $287.96. The company’s 50 day moving average is $247.26 and its 200 day moving average is $220.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 1.84. The firm has a market capitalization of $1.25 billion, a P/E ratio of 33.85 and a beta of 0.76.

Preformed Line Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. This is an increase from Preformed Line Products’s previous quarterly dividend of $0.20. Preformed Line Products’s payout ratio is currently 11.13%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Preformed Line Products in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Preformed Line Products currently has an average rating of “Buy”.

Institutional Investors Weigh In On Preformed Line Products

A number of hedge funds have recently bought and sold shares of PLPC. Bosun Asset Management LLC bought a new stake in Preformed Line Products in the 2nd quarter valued at $903,000. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Preformed Line Products by 9.3% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 78,818 shares of the technology company’s stock worth $12,596,000 after purchasing an additional 6,718 shares during the period. American Century Companies Inc. raised its position in shares of Preformed Line Products by 13.4% during the second quarter. American Century Companies Inc. now owns 81,774 shares of the technology company’s stock valued at $13,068,000 after buying an additional 9,637 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Preformed Line Products by 9,919.7% in the second quarter. Quantbot Technologies LP now owns 7,615 shares of the technology company’s stock valued at $1,217,000 after buying an additional 7,539 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of Preformed Line Products in the third quarter valued at about $1,365,000. 41.19% of the stock is currently owned by institutional investors.

Preformed Line Products Company Profile

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.