BidaskClub upgraded shares of Preformed Line Products (NASDAQ:PLPC) from a buy rating to a strong-buy rating in a report issued on Thursday, June 21st.
Separately, ValuEngine upgraded shares of Preformed Line Products from a hold rating to a buy rating in a research report on Saturday, May 12th.
Shares of Preformed Line Products opened at $88.78 on Thursday, according to MarketBeat. The company has a current ratio of 3.54, a quick ratio of 2.18 and a debt-to-equity ratio of 0.18. The firm has a market cap of $451.11 million, a PE ratio of 27.32 and a beta of 1.35. Preformed Line Products has a 12 month low of $44.95 and a 12 month high of $96.83.
Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings results on Friday, May 4th. The technology company reported $1.09 earnings per share for the quarter. The firm had revenue of $98.14 million during the quarter. Preformed Line Products had a net margin of 4.25% and a return on equity of 6.89%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 20th. Investors of record on Monday, July 2nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, June 29th.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Preformed Line Products by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 302,856 shares of the technology company’s stock valued at $19,713,000 after buying an additional 6,211 shares in the last quarter. BlackRock Inc. raised 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 last quarter. Renaissance Technologies LLC increased its holdings in Preformed Line Products by 16.9% during the fourth quarter. Renaissance Technologies LLC now owns 60,100 shares of the technology company’s stock worth $4,270,000 after buying an additional 8,700 shares during the last quarter. Millennium Management LLC acquired a new position in Preformed Line Products during the fourth quarter worth $2,219,000. Finally, Geode Capital Management LLC increased its holdings in Preformed Line Products by 21.5% during the fourth quarter. Geode Capital Management LLC now owns 28,345 shares of the technology company’s stock worth $2,013,000 after buying an additional 5,023 shares during the last quarter. 44.94% of the stock is currently owned by hedge funds and other institutional investors.
Preformed Line Products Company Profile
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.
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