Preformed Line Products (NASDAQ:PLPC) Issues Earnings Results

Preformed Line Products (NASDAQ:PLPCGet Free Report) issued its quarterly earnings results on Wednesday. The technology company reported $1.54 EPS for the quarter, reports. The firm had revenue of $146.97 million for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.94%.

Preformed Line Products Stock Performance

Shares of NASDAQ PLPC traded up $3.00 during midday trading on Friday, hitting $126.00. 6,116 shares of the company’s stock were exchanged, compared to its average volume of 14,923. The company’s 50 day moving average price is $121.65 and its 200 day moving average price is $124.33. Preformed Line Products has a 12 month low of $104.96 and a 12 month high of $141.66. The firm has a market capitalization of $619.16 million, a PE ratio of 18.92 and a beta of 0.61. The company has a quick ratio of 1.57, a current ratio of 2.93 and a debt-to-equity ratio of 0.07.

Preformed Line Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Tuesday, October 1st were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.80 annualized dividend and a yield of 0.63%. Preformed Line Products’s dividend payout ratio is 12.01%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Preformed Line Products from a “buy” rating to a “strong-buy” rating in a report on Monday, October 28th.

View Our Latest Stock Analysis on Preformed Line Products

Hedge Funds Weigh In On Preformed Line Products

Several institutional investors and hedge funds have recently modified their holdings of the stock. Denali Advisors LLC lifted its position in Preformed Line Products by 37.9% during the first quarter. Denali Advisors LLC now owns 4,000 shares of the technology company’s stock worth $515,000 after acquiring an additional 1,100 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Preformed Line Products by 29.0% in the first 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 position in Preformed Line Products by 1.4% during the first quarter. Janney Montgomery Scott LLC now owns 14,166 shares of the technology company’s stock worth $1,823,000 after purchasing an additional 192 shares during the period. Russell Investments Group Ltd. grew its stake in Preformed Line Products by 6.8% during the first quarter. Russell Investments Group Ltd. now owns 4,003 shares of the technology company’s stock worth $515,000 after buying an additional 254 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of 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 buying an additional 3,489 shares in the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

About Preformed Line Products

(Get Free Report)

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.

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Earnings History for Preformed Line Products (NASDAQ:PLPC)

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