Preformed Line Products (NASDAQ:PLPC) Posts Earnings Results

Preformed Line Products (NASDAQ:PLPC) posted its quarterly earnings results on Wednesday. The technology company reported $1.54 earnings per share for the quarter, reports. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.94%. The business had revenue of $146.97 million for the quarter.

Preformed Line Products Price Performance

NASDAQ PLPC traded up $1.77 during trading hours on Friday, reaching $124.77. The company’s stock had a trading volume of 2,308 shares, compared to its average volume of 14,905. The stock has a market cap of $613.12 million, a PE ratio of 18.47 and a beta of 0.61. Preformed Line Products has a fifty-two week low of $104.96 and a fifty-two week high of $141.66. The company’s 50-day moving average is $121.59 and its two-hundred day moving average is $124.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.57 and a current ratio of 2.93.

Preformed Line Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Tuesday, October 1st were paid a $0.20 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.80 dividend on an annualized basis and a yield of 0.64%. Preformed Line Products’s payout ratio is 12.01%.

Institutional Investors Weigh In On Preformed Line Products

A number of large investors have recently added to or reduced their stakes in PLPC. Denali Advisors LLC grew its stake in Preformed Line Products by 37.9% in the 1st quarter. Denali Advisors LLC now owns 4,000 shares of the technology company’s stock valued at $515,000 after acquiring an additional 1,100 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Preformed Line Products by 29.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,231 shares of the technology company’s stock valued at $416,000 after purchasing an additional 726 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Preformed Line Products by 1.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock valued at $1,823,000 after purchasing an additional 192 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Preformed Line Products by 6.8% in the 1st quarter. Russell Investments Group Ltd. now owns 4,003 shares of the technology company’s stock valued at $515,000 after purchasing an additional 254 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Preformed Line Products by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 73,040 shares of the technology company’s stock valued at $9,398,000 after purchasing an additional 3,489 shares in the last quarter. 41.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Preformed Line Products from a “buy” rating to a “strong-buy” rating in a research note on Monday.

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.