Preformed Line Products (NASDAQ:PLPC) Cut to “Buy” at StockNews.com

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

Preformed Line Products Stock Down 2.7 %

NASDAQ PLPC opened at $130.57 on Tuesday. The business’s fifty day simple moving average is $134.00 and its 200-day simple moving average is $128.79. The company has a quick ratio of 1.56, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The firm has a market cap of $639.53 million, a PE ratio of 19.61 and a beta of 0.63. Preformed Line Products has a 52 week low of $109.01 and a 52 week high of $154.90.

Preformed Line Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $0.80 annualized dividend and a dividend yield of 0.61%. Preformed Line Products’s dividend payout ratio (DPR) is 12.01%.

Institutional Trading of Preformed Line Products

Several institutional investors have recently made changes to their positions in PLPC. Royce & Associates LP increased its stake in Preformed Line Products by 3.1% during the fourth quarter. Royce & Associates LP now owns 314,094 shares of the technology company’s stock worth $40,138,000 after acquiring an additional 9,458 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Preformed Line Products by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 64,704 shares of the technology company’s stock worth $8,271,000 after purchasing an additional 381 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Preformed Line Products by 2.6% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 59,803 shares of the technology company’s stock worth $7,642,000 after purchasing an additional 1,542 shares during the last quarter. American Century Companies Inc. raised its holdings in Preformed Line Products by 160.8% in the 4th quarter. American Century Companies Inc. now owns 49,057 shares of the technology company’s stock valued at $6,269,000 after buying an additional 30,245 shares during the period. Finally, Invesco Ltd. lifted its position in Preformed Line Products by 0.4% in the fourth quarter. Invesco Ltd. now owns 41,204 shares of the technology company’s stock valued at $5,265,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 41.19% of the company’s stock.

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.