Preformed Line Products Company (PLPC) Releases Quarterly Earnings Results
Preformed Line Products Company (NASDAQ:PLPC) posted its quarterly earnings results on Friday. The technology company reported $1.23 EPS for the quarter, Bloomberg Earnings reports. The business had revenue of $99.24 million during the quarter. Preformed Line Products had a net margin of 4.35% and a return on equity of 6.77%.
Preformed Line Products (NASDAQ:PLPC) traded up $0.39 during trading on Friday, hitting $70.49. 14,876 shares of the stock traded hands, compared to its average volume of 22,128. The company has a current ratio of 3.31, a quick ratio of 2.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $360.63, a PE ratio of 23.21 and a beta of 1.25. Preformed Line Products has a 1-year low of $42.76 and a 1-year high of $75.76.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Monday, October 2nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. Preformed Line Products’s dividend payout ratio (DPR) is currently 26.49%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in Preformed Line Products by 10.8% during the second quarter. California State Teachers Retirement System now owns 5,603 shares of the technology company’s stock worth $260,000 after acquiring an additional 544 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Preformed Line Products by 73.4% during the second quarter. The Manufacturers Life Insurance Company now owns 3,494 shares of the technology company’s stock worth $162,000 after acquiring an additional 1,479 shares during the last quarter. Finally, State Street Corp increased its stake in Preformed Line Products by 6.6% during the second quarter. State Street Corp now owns 44,133 shares of the technology company’s stock worth $2,051,000 after acquiring an additional 2,722 shares during the last quarter. 43.85% of the stock is currently owned by institutional investors.
Separately, TheStreet upgraded shares of Preformed Line Products from a “c+” rating to a “b-” rating in a research note on Monday, August 21st.
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About Preformed Line Products
Preformed Line Products Company (PLPC) is a designer and manufacturer of products and systems employed in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operators and information industries. The Company’s products include Formed Wire and Related Hardware Products, Protective Closures, Plastic Products and Other Products.
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