StockNews.com Lowers Preformed Line Products (NASDAQ:PLPC) to Buy

StockNews.com lowered shares of Preformed Line Products (NASDAQ:PLPC) from a strong-buy rating to a buy rating in a research report released on Tuesday.

Preformed Line Products Stock Up 2.8 %

Preformed Line Products stock opened at $131.38 on Tuesday. The firm has a market cap of $646.39 million, a price-to-earnings ratio of 12.71 and a beta of 0.75. The company has a current ratio of 3.15, a quick ratio of 1.73 and a debt-to-equity ratio of 0.12. Preformed Line Products has a 12 month low of $104.96 and a 12 month high of $184.82. The stock has a fifty day simple moving average of $126.48 and a two-hundred day simple moving average of $128.07.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.94 EPS for the quarter. The company had revenue of $140.90 million during the quarter. Preformed Line Products had a return on equity of 12.67% and a net margin of 8.20%.

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Tuesday, April 2nd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.61%. The ex-dividend date was Monday, April 1st. Preformed Line Products’s dividend payout ratio is currently 7.74%.

Institutional Investors Weigh In On Preformed Line Products

A number of hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its holdings in shares of Preformed Line Products by 123.0% in the fourth quarter. New York State Teachers Retirement System now owns 223 shares of the technology company’s stock worth $30,000 after buying an additional 123 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Preformed Line Products during the 4th quarter worth $34,000. Tower Research Capital LLC TRC grew its position in shares of Preformed Line Products by 243.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 282 shares of the technology company’s stock valued at $38,000 after acquiring an additional 200 shares during the period. Quest Partners LLC purchased a new stake in shares of Preformed Line Products in the 4th quarter worth $75,000. Finally, SG Americas Securities LLC raised its holdings in Preformed Line Products by 21.1% in the 4th quarter. SG Americas Securities LLC now owns 1,050 shares of the technology company’s stock worth $141,000 after purchasing an additional 183 shares during the period. 41.19% of the stock is currently owned by hedge funds and other institutional investors.

About Preformed Line Products

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.