Preformed Line Products (NASDAQ:PLPC) Shares Break Above Two Hundred Day Moving Average – What’s Next?

Preformed Line Products Company (NASDAQ:PLPC) crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $358.94 and traded as high as $441.39. Preformed Line Products shares last traded at $423.33, with a volume of 68,162 shares.

Analyst Upgrades and Downgrades

PLPC has been the subject of several analyst reports. Freedom Capital raised Preformed Line Products from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings lowered Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. Finally, Wall Street Zen upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Preformed Line Products presently has a consensus rating of “Buy” and an average target price of $275.00.

Preformed Line Products Trading Down 1.5%

The stock has a market capitalization of $2.07 billion, a PE ratio of 47.67 and a beta of 0.93. The company has a quick ratio of 1.88, a current ratio of 2.99 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average is $403.41 and its two-hundred day moving average is $358.94.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $4.49 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $193.00 million.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Thursday, October 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. Preformed Line Products’s dividend payout ratio is 9.46%.

Insider Transactions at Preformed Line Products

In related news, Director Glen E. Corlett sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total transaction of $914,040.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 33.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Preformed Line Products

A number of hedge funds have recently modified their holdings of the business. HighTower Advisors LLC raised its position in Preformed Line Products by 4.8% in the 2nd quarter. HighTower Advisors LLC now owns 1,014,731 shares of the technology company’s stock valued at $416,608,000 after purchasing an additional 46,664 shares during the last quarter. Wasatch Advisors LP grew its position in Preformed Line Products by 234.3% during 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 during the last quarter. BlackRock Inc. acquired a new position in Preformed Line Products in the second quarter valued at $93,241,000. First Trust Advisors LP increased its stake in Preformed Line Products by 28.9% in the first quarter. First Trust Advisors LP now owns 21,144 shares of the technology company’s stock valued at $5,725,000 after purchasing an additional 4,745 shares during the period. Finally, Ranger Investment Management L.P. acquired a new position in Preformed Line Products in the second quarter valued at $7,940,000. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

Preformed Line Products Company Profile

Preformed Line Products Company (NASDAQ: PLPC) manufactures products and systems used to construct, maintain and improve overhead and underground networks. Its customers include electric utilities, telecommunications providers, cable operators and other infrastructure companies.

The company’s offerings include products for transmission and distribution lines, substation and utility applications, communications networks, broadband and data infrastructure, and renewable-energy installations.