BidaskClub Upgrades Preformed Line Products (NASDAQ:PLPC) to Buy

BidaskClub upgraded shares of Preformed Line Products (NASDAQ:PLPC) from a hold rating to a buy rating in a research report report published on Wednesday, March 21st.

NASDAQ:PLPC traded down $1.90 during mid-day trading on Wednesday, hitting $66.30. 3,725 shares of the company’s stock traded hands, compared to its average volume of 6,576. Preformed Line Products has a twelve month low of $44.80 and a twelve month high of $85.63. The firm has a market capitalization of $344.51, a P/E ratio of 27.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.30 and a quick ratio of 2.06.

How to Become a New Pot Stock Millionaire

Preformed Line Products (NASDAQ:PLPC) last announced its earnings results on Friday, March 9th. The technology company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $96.89 million for the quarter. Preformed Line Products had a return on equity of 5.33% and a net margin of 3.35%.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Monday, April 2nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 29th.

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Preformed Line Products by 6.8% in the third quarter. Dimensional Fund Advisors LP now owns 280,019 shares of the technology company’s stock valued at $18,845,000 after purchasing an additional 17,801 shares during the period. BlackRock Inc. increased its holdings in shares of Preformed Line Products by 1.8% in the fourth quarter. BlackRock Inc. now owns 141,813 shares of the technology company’s stock valued at $10,075,000 after purchasing an additional 2,512 shares during the period. Dalton Greiner Hartman Maher & Co. increased its holdings in shares of Preformed Line Products by 16.2% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 98,222 shares of the technology company’s stock valued at $6,979,000 after purchasing an additional 13,690 shares during the period. Vanguard Group Inc. increased its holdings in shares of Preformed Line Products by 2.1% in the second quarter. Vanguard Group Inc. now owns 86,179 shares of the technology company’s stock valued at $4,001,000 after purchasing an additional 1,796 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Preformed Line Products by 16.9% in the fourth quarter. Renaissance Technologies LLC now owns 60,100 shares of the technology company’s stock valued at $4,270,000 after purchasing an additional 8,700 shares during the period. 45.28% of the stock is currently owned by institutional investors and hedge funds.

WARNING: This news story was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://ledgergazette.com/2018/04/16/preformed-line-products-plpc-lifted-to-buy-at-bidaskclub.html.

About Preformed Line Products

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries. The company offers formed wire and related hardware products to support, protect, terminate, and secure power conductor and communication cables, as well as to control cable dynamics; and hardware products to support and protect transmission conductors, spacers, spacer-dampers, stockbridge dampers, corona suppression devices, and various compression fittings for dead-end applications.

Receive News & Ratings for Preformed Line Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preformed Line Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply