Preformed Line Products (NASDAQ:PLPC) Lifted to “B-” at TheStreet

TheStreet upgraded shares of Preformed Line Products (NASDAQ:PLPC) from a c+ rating to a b- rating in a research note issued to investors on Wednesday morning, TheStreetRatingsTable reports.

A number of other equities analysts also recently issued reports on the company. ValuEngine upgraded Preformed Line Products from a hold rating to a buy rating in a research report on Thursday. BidaskClub upgraded Preformed Line Products from a strong sell rating to a sell rating in a research report on Tuesday, July 2nd.

Shares of PLPC opened at $55.50 on Wednesday. Preformed Line Products has a 1 year low of $45.12 and a 1 year high of $87.10. The company has a quick ratio of 1.88, a current ratio of 3.11 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $292.23 million, a P/E ratio of 12.92 and a beta of 1.46. The business’s 50-day moving average is $55.43.

Preformed Line Products (NASDAQ:PLPC) last issued its quarterly earnings data on Friday, August 2nd. The technology company reported $1.56 earnings per share (EPS) for the quarter. Preformed Line Products had a return on equity of 9.29% and a net margin of 5.45%. The company had revenue of $114.84 million during the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, July 1st were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.44%.

Several institutional investors and hedge funds have recently modified their holdings of PLPC. Dimensional Fund Advisors LP grew its stake in Preformed Line Products by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 341,351 shares of the technology company’s stock worth $18,518,000 after purchasing an additional 13,909 shares during the period. BlackRock Inc. grew its stake in Preformed Line Products by 2.2% during the fourth quarter. BlackRock Inc. now owns 161,937 shares of the technology company’s stock worth $8,785,000 after purchasing an additional 3,503 shares during the period. Dalton Greiner Hartman Maher & Co. grew its stake in Preformed Line Products by 7.7% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 85,924 shares of the technology company’s stock worth $4,562,000 after purchasing an additional 6,175 shares during the period. Geode Capital Management LLC grew its stake in Preformed Line Products by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 53,354 shares of the technology company’s stock worth $2,894,000 after purchasing an additional 6,425 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Preformed Line Products by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 27,931 shares of the technology company’s stock worth $1,515,000 after purchasing an additional 700 shares during the period. Institutional investors own 44.54% of the company’s stock.

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.

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