Key Points
- Director Glen Corlett sold 2,000 PLPC shares at an average price of $457.02, totaling $914,040, according to an SEC filing.
- Preformed Line Products reported strong quarterly results, with EPS of $4.49 versus the $2.41 analyst consensus and revenue of $212.68 million, above expectations of $193 million.
- PLPC shares opened at $460.75 and have climbed sharply toward their 52-week high of $497.00; analysts’ average rating is “Buy,” although the $275 consensus price target is well below the current share price.
Preformed Line Products Company (NASDAQ:PLPC - Get Free Report) Director Glen Corlett sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $457.02, for a total value of $914,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Preformed Line Products Stock Down 2.2%
PLPC stock opened at $460.75 on Friday. The business's 50-day moving average price is $365.13 and its 200-day moving average price is $317.91. The stock has a market cap of $2.25 billion, a P/E ratio of 51.89 and a beta of 0.91. The company has a quick ratio of 1.78, a current ratio of 2.99 and a debt-to-equity ratio of 0.07. Preformed Line Products Company has a twelve month low of $153.22 and a twelve month high of $497.00.
Preformed Line Products (NASDAQ:PLPC - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $4.49 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $2.08. Preformed Line Products had a net margin of 5.82% and a return on equity of 10.64%. The company had revenue of $212.68 million for the quarter, compared to analysts' expectations of $193.00 million.
Preformed Line Products Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Wednesday, July 1st were paid a dividend of $0.21 per share. The ex-dividend date was Wednesday, July 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 9.46%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP raised its holdings in Preformed Line Products by 234.3% during the 2nd quarter. Wasatch Advisors LP now owns 377,367 shares of the technology company's stock valued at $154,932,000 after buying an additional 264,478 shares during the period. HighTower Advisors LLC lifted its position in Preformed Line Products by 11.6% in the fourth quarter. HighTower Advisors LLC now owns 966,185 shares of the technology company's stock worth $199,720,000 after buying an additional 100,113 shares during the last quarter. Informed Momentum Co LLC bought a new stake in Preformed Line Products in the fourth quarter worth $4,640,000. Arrowstreet Capital Limited Partnership boosted its stake in Preformed Line Products by 81.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 42,713 shares of the technology company's stock worth $8,378,000 after buying an additional 19,216 shares during the period. Finally, Ranger Investment Management L.P. purchased a new position in Preformed Line Products during the first quarter worth $5,069,000. Institutional investors own 41.19% of the company's stock.
Wall Street Analyst Weigh In
PLPC has been the subject of a number of recent analyst reports. Freedom Capital raised Preformed Line Products from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Weiss Ratings reissued a "hold (c+)" rating on shares of Preformed Line Products in a research note on Friday, July 24th. Finally, Wall Street Zen raised Preformed Line Products from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $275.00.
Get Our Latest Stock Report on PLPC
Preformed Line Products Company Profile
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Get Free Report)
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.
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