Preformed Line Products (NASDAQ:PLPC) Trading Up 5.5% – Still a Buy?

Preformed Line Products (NASDAQ:PLPC)’s share price shot up 5.5% on Friday . The company traded as high as $133.90 and last traded at $138.28. 3,144 shares changed hands during trading, a decline of 59% from the average session volume of 7,641 shares. The stock had previously closed at $131.13.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th.

Preformed Line Products Trading Up 8.1 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The company has a market capitalization of $694.54 million, a price-to-earnings ratio of 21.29 and a beta of 0.63. The business has a fifty day moving average price of $130.79 and a 200 day moving average price of $126.08.

Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Wednesday, October 30th. The technology company reported $1.54 EPS for the quarter. The firm had revenue of $146.97 million during the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, January 7th. Preformed Line Products’s dividend payout ratio (DPR) is presently 12.01%.

Hedge Funds Weigh In On Preformed Line Products

Several large investors have recently added to or reduced their stakes in PLPC. Truvestments Capital LLC bought a new stake in shares of Preformed Line Products during the third quarter valued at approximately $103,000. SG Americas Securities LLC bought a new stake in Preformed Line Products in the 3rd quarter valued at $119,000. BNP Paribas Financial Markets raised its stake in shares of Preformed Line Products by 13.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company’s stock valued at $304,000 after buying an additional 274 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Preformed Line Products by 62.4% during the 3rd quarter. Quest Partners LLC now owns 2,554 shares of the technology company’s stock worth $327,000 after acquiring an additional 981 shares during the period. Finally, Summit Global Investments acquired a new stake in shares of Preformed Line Products during the 3rd quarter valued at about $345,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Preformed Line Products Company Profile

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.