Preformed Line Products (NASDAQ:PLPC) Director Glen Corlett Sells 2,000 Shares

Preformed Line Products Company (NASDAQ:PLPC) Director Glen Corlett sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $457.02, for a total transaction of $914,040.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Preformed Line Products Stock Performance

Shares of PLPC stock opened at $460.75 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.99 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $365.13 and a 200-day moving average price of $317.91. Preformed Line Products Company has a 52 week low of $153.22 and a 52 week high of $497.00. The firm has a market capitalization of $2.25 billion, a PE ratio of 51.89 and a beta of 0.91.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Wednesday, July 29th. The technology company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $2.08. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%. The company had revenue of $212.68 million for the quarter, compared to analysts’ expectations of $193.00 million.

Preformed Line Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Wednesday, July 1st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, July 1st. Preformed Line Products’s dividend payout ratio (DPR) is 9.46%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in shares of Preformed Line Products during the 2nd quarter worth $7,582,000. State of Wyoming bought a new stake in shares of Preformed Line Products during the 2nd quarter valued at $165,000. GSA Capital Partners LLP bought a new stake in shares of Preformed Line Products during the 2nd quarter valued at $873,000. Avalon Trust Co purchased a new stake in shares of Preformed Line Products in the 2nd quarter worth $82,000. Finally, Wasatch Advisors LP increased its stake in shares of Preformed Line Products by 234.3% in the 2nd quarter. Wasatch Advisors LP now owns 377,367 shares of the technology company’s stock worth $154,932,000 after purchasing an additional 264,478 shares in the last quarter. 41.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLPC has been the subject of several research analyst reports. Freedom Capital raised Preformed Line Products from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Wall Street Zen raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Preformed Line Products in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Preformed Line Products currently has an average rating of “Buy” and an average price target of $275.00.

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.