Preformed Line Products (NASDAQ:PLPC) Upgraded at StockNews.com

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

Preformed Line Products Price Performance

Shares of NASDAQ PLPC opened at $148.54 on Tuesday. The firm has a market capitalization of $733.94 million, a P/E ratio of 22.30 and a beta of 0.62. Preformed Line Products has a one year low of $109.01 and a one year high of $154.90. The company’s fifty day moving average is $135.52 and its two-hundred day moving average is $130.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81.

Preformed Line Products (NASDAQ:PLPC) last issued its earnings results on Thursday, March 13th. The technology company reported $2.13 EPS for the quarter. The company had revenue of $167.12 million for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.54%. Preformed Line Products’s payout ratio is currently 10.67%.

Institutional Investors Weigh In On Preformed Line Products

Several institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Preformed Line Products during the 4th quarter worth $1,712,000. Pullen Investment Management LLC purchased a new stake in shares of Preformed Line Products in the 4th quarter worth about $605,000. Janus Henderson Group PLC boosted its position in shares of Preformed Line Products by 13.9% in the 4th quarter. Janus Henderson Group PLC now owns 8,983 shares of the technology company’s stock worth $1,149,000 after buying an additional 1,098 shares in the last quarter. Northern Trust Corp boosted its position in shares of Preformed Line Products by 1.2% in the 4th quarter. Northern Trust Corp now owns 35,732 shares of the technology company’s stock worth $4,566,000 after buying an additional 429 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Preformed Line Products by 12.4% in the 4th quarter. First Trust Advisors LP now owns 22,481 shares of the technology company’s stock worth $2,873,000 after buying an additional 2,480 shares in the last quarter. 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.