Preformed Line Products (NASDAQ:PLPC) Stock Passes Above 200-Day Moving Average – Time to Sell?

Preformed Line Products Company (NASDAQ:PLPC)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $254.95 and traded as high as $351.40. Preformed Line Products shares last traded at $347.12, with a volume of 65,124 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLPC. Loop Capital set a $275.00 price objective on shares of Preformed Line Products in a research note on Monday, March 9th. Weiss Ratings downgraded shares of Preformed Line Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Freedom Capital lowered shares of Preformed Line Products from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Finally, Wall Street Zen lowered shares of Preformed Line Products from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Preformed Line Products currently has an average rating of “Hold” and an average target price of $275.00.

Preformed Line Products Stock Up 0.8%

The company’s fifty day simple moving average is $299.00 and its 200-day simple moving average is $254.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.01 and a quick ratio of 1.78. The firm has a market capitalization of $1.70 billion, a PE ratio of 49.95 and a beta of 0.88.

Preformed Line Products (NASDAQ:PLPC) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.32. Preformed Line Products had a net margin of 4.92% and a return on equity of 8.96%. The business had revenue of $176.28 million for the quarter, compared to analyst estimates of $178.00 million.

Preformed Line Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. Preformed Line Products’s payout ratio is 12.09%.

Institutional Investors Weigh In On Preformed Line Products

Large investors have recently made changes to their positions in the stock. Montag A & Associates Inc. purchased a new stake in shares of Preformed Line Products during the third quarter valued at $29,000. Huntington National Bank grew its holdings in shares of Preformed Line Products by 181.7% during the third quarter. Huntington National Bank now owns 200 shares of the technology company’s stock valued at $39,000 after buying an additional 129 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Preformed Line Products by 2,562.5% during the third 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 during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Preformed Line Products by 199.0% during the second quarter. Tower Research Capital LLC TRC now owns 299 shares of the technology company’s stock valued at $48,000 after buying an additional 199 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Preformed Line Products during the third quarter valued at $51,000. 41.19% of the stock is owned by hedge funds and other institutional investors.

Preformed Line Products Company Profile

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.