Preformed Line Products (NASDAQ:PLPC) Sets New 12-Month High – Should You Buy?

Preformed Line Products Company (NASDAQ:PLPC) shares reached a new 52-week high on Thursday . The company traded as high as $287.97 and last traded at $284.7950, with a volume of 21056 shares changing hands. The stock had previously closed at $279.13.

Wall Street Analysts Forecast Growth

PLPC has been the subject of several analyst reports. Wall Street Zen lowered shares of Preformed Line Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Preformed Line Products in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Preformed Line Products Stock Down 1.8%

The company has a current ratio of 3.09, a quick ratio of 1.84 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average price is $235.68 and its two-hundred day moving average price is $210.19. The stock has a market capitalization of $1.34 billion, a P/E ratio of 36.32 and a beta of 0.77.

Preformed Line Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were issued a $0.21 dividend. This is an increase from Preformed Line Products’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, January 5th. This represents a $0.84 annualized dividend and a yield of 0.3%. Preformed Line Products’s payout ratio is 11.13%.

Hedge Funds Weigh In On Preformed Line Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Montag A & Associates Inc. bought a new stake in shares of Preformed Line Products in the third quarter valued at approximately $29,000. Huntington National Bank grew its stake in Preformed Line Products by 181.7% in the 3rd quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after buying an additional 129 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Preformed Line Products by 2,562.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 213 shares of the technology company’s stock valued at $42,000 after buying an additional 205 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Preformed Line Products by 199.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after acquiring an additional 199 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Preformed Line Products during the third quarter worth $51,000. Institutional investors own 41.19% of the company’s stock.

About Preformed Line Products

Preformed Line Products Company (NASDAQ: PLPC) is a global manufacturer of engineered solutions for electric, telecommunications and industrial infrastructure networks. The company designs, engineers and produces a broad portfolio of products, including preformed wire and cable fittings, anchors, suspension and tension clamps, splice closures and optical fiber hardware. These durable components support the installation, repair and maintenance of overhead and underground systems, helping utilities and contractors manage reliability and safety in demanding environments.

Founded in 1947 and headquartered in Mayfield Village, Ohio, Preformed Line Products operates manufacturing facilities and distribution centers across North America, Europe and the Asia Pacific region.