Preformed Line Products (NASDAQ:PLPC) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Preformed Line Products (NASDAQ:PLPC) from a strong-buy rating to a buy rating in a research report report published on Monday.

Preformed Line Products Stock Down 3.7 %

Shares of PLPC stock opened at $132.31 on Monday. Preformed Line Products has a fifty-two week low of $109.01 and a fifty-two week high of $154.90. The firm has a market capitalization of $653.74 million, a PE ratio of 19.87 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 2.81. The stock’s 50-day simple moving average is $136.64 and its 200-day simple moving average is $134.50.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $2.33 earnings per share for the quarter. The company had revenue of $148.54 million for the quarter. Preformed Line Products had a net margin of 5.76% and a return on equity of 7.88%.

Preformed Line Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Tuesday, April 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Tuesday, April 1st. Preformed Line Products’s dividend payout ratio (DPR) is presently 10.14%.

Institutional Investors Weigh In On Preformed Line Products

A number of institutional investors have recently modified their holdings of the business. Royce & Associates LP raised its stake in shares of Preformed Line Products by 3.1% during the 4th quarter. Royce & Associates LP now owns 314,094 shares of the technology company’s stock worth $40,138,000 after buying an additional 9,458 shares during the period. Geode Capital Management LLC lifted its holdings in Preformed Line Products by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 64,704 shares of the technology company’s stock valued at $8,271,000 after purchasing an additional 381 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Preformed Line Products by 2.6% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 59,803 shares of the technology company’s stock valued at $7,642,000 after purchasing an additional 1,542 shares during the period. American Century Companies Inc. increased its stake in shares of Preformed Line Products by 160.8% during the fourth quarter. American Century Companies Inc. now owns 49,057 shares of the technology company’s stock worth $6,269,000 after purchasing an additional 30,245 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Preformed Line Products by 0.4% during the 4th quarter. Invesco Ltd. now owns 41,204 shares of the technology company’s stock worth $5,265,000 after purchasing an additional 172 shares during the last quarter. 41.19% of the stock is currently owned by institutional investors and hedge funds.

Preformed Line Products Company Profile

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.