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

Preformed Line Products Company (NASDAQ:PLPC) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $210.19 and traded as high as $280.60. Preformed Line Products shares last traded at $279.13, with a volume of 67,892 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Preformed Line Products in a research note on Monday, December 29th. Wall Street Zen lowered Preformed Line Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Preformed Line Products Price Performance

The company has a fifty day simple moving average of $235.68 and a 200-day simple moving average of $210.19. The company has a market cap of $1.37 billion, a P/E ratio of 36.97 and a beta of 0.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.09 and a quick ratio of 1.84.

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 given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Preformed Line Products’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, January 5th. Preformed Line Products’s payout ratio is presently 11.13%.

Hedge Funds Weigh In On Preformed Line Products

A number of institutional investors have recently bought and sold shares of PLPC. Bank of America Corp DE raised its stake in shares of 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 worth $257,000 after purchasing an additional 100 shares in the last quarter. Pullen Investment Management LLC increased 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. Huntington National Bank raised its position in Preformed Line Products by 55.5% during the fourth quarter. Huntington National Bank now owns 311 shares of the technology company’s stock valued at $64,000 after acquiring an additional 111 shares in the last quarter. Quantinno Capital Management LP lifted its stake in 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 valued at $611,000 after acquiring an additional 128 shares during the last quarter. Finally, Montag A & Associates Inc. bought a new stake in Preformed Line Products in the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 41.19% of the company’s stock.

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.