Preformed Line Products (NASDAQ:PLPC) Issues Quarterly Earnings Results

Preformed Line Products (NASDAQ:PLPC) announced its quarterly earnings data on Wednesday. The technology company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.82 by $0.32, FiscalAI reports. Preformed Line Products had a net margin of 5.27% and a return on equity of 9.36%. The business had revenue of $176.28 million during the quarter, compared to the consensus estimate of $178.00 million.

Preformed Line Products Price Performance

Shares of NASDAQ:PLPC traded down $19.21 during trading on Wednesday, hitting $337.29. 210,529 shares of the company were exchanged, compared to its average volume of 146,439. The business’s 50 day moving average is $282.77 and its 200-day moving average is $247.27. The company has a market capitalization of $1.65 billion, a P/E ratio of 47.24 and a beta of 0.75. The company has a quick ratio of 1.87, a current ratio of 3.17 and a debt-to-equity ratio of 0.07. Preformed Line Products has a 1-year low of $130.00 and a 1-year high of $365.60.

Preformed Line Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.21 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. Preformed Line Products’s dividend payout ratio is 11.76%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in shares of Preformed Line Products by 2,562.5% during the third quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock worth $42,000 after buying an additional 205 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Preformed Line Products by 199.0% during the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after acquiring an additional 199 shares during the last quarter. Royal Bank of Canada boosted its position in Preformed Line Products by 132.4% during the fourth quarter. Royal Bank of Canada now owns 251 shares of the technology company’s stock valued at $52,000 after acquiring an additional 143 shares during the last quarter. State of Wyoming bought a new stake in Preformed Line Products during the second quarter valued at $63,000. Finally, BNP Paribas Financial Markets boosted its position in Preformed Line Products by 102.5% during the third quarter. BNP Paribas Financial Markets now owns 492 shares of the technology company’s stock valued at $97,000 after acquiring an additional 249 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Freedom Capital upgraded shares of Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 9th. Wall Street Zen downgraded shares of Preformed Line Products from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Loop Capital set a $275.00 price objective on shares of Preformed Line Products in a research report on Monday, March 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Preformed Line Products in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and an average target price of $275.00.

About Preformed Line Products

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.