Preformed Line Products (NASDAQ:PLPC) Sets New 12-Month High – Time to Buy?

Preformed Line Products Company (NASDAQ:PLPC)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $261.77 and last traded at $260.07, with a volume of 71312 shares traded. The stock had previously closed at $250.94.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PLPC shares. Wall Street Zen cut shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Preformed Line Products Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.84 and a current ratio of 3.09. The business’s 50-day moving average is $229.05 and its 200-day moving average is $205.63. The company has a market capitalization of $1.28 billion, a PE ratio of 34.50 and a beta of 0.77.

Preformed Line Products Increases Dividend

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

Hedge Funds Weigh In On Preformed Line Products

Large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its position in Preformed Line Products by 6.6% during the 2nd quarter. Bank of America Corp DE now owns 1,609 shares of the technology company’s stock valued at $257,000 after purchasing an additional 100 shares during the last quarter. Pullen Investment Management LLC raised its holdings in Preformed Line Products by 0.9% in the second 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. Quantinno Capital Management LP lifted its stake in shares of Preformed Line Products by 3.5% in the second 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 in the last quarter. Huntington National Bank lifted its stake in shares of Preformed Line Products by 181.7% in the third quarter. Huntington National Bank now owns 200 shares of the technology company’s stock worth $39,000 after buying an additional 129 shares in the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in shares of Preformed Line Products during the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 41.19% of the company’s stock.

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.