Preformed Line Products Company to Issue Quarterly Dividend of $0.20 (PLPC)

Preformed Line Products Company (NASDAQ:PLPC) declared a quarterly dividend on Monday, December 18th, Wall Street Journal reports. Investors of record on Tuesday, January 2nd will be paid a dividend of 0.20 per share by the technology company on Friday, January 19th. This represents a $0.80 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, December 29th.

Preformed Line Products (NASDAQ PLPC) traded up $0.79 during trading on Monday, reaching $75.49. The company’s stock had a trading volume of 12,903 shares, compared to its average volume of 10,873. The company has a current ratio of 3.15, a quick ratio of 2.00 and a debt-to-equity ratio of 0.13. The stock has a market cap of $380.33, a P/E ratio of 22.43 and a beta of 1.32. Preformed Line Products has a twelve month low of $44.50 and a twelve month high of $85.63.

Preformed Line Products (NASDAQ:PLPC) last posted its quarterly earnings results on Friday, November 3rd. The technology company reported $1.23 earnings per share for the quarter. The business had revenue of $99.24 million for the quarter. Preformed Line Products had a return on equity of 7.30% and a net margin of 4.64%.

Preformed Line Products announced that its Board of Directors has approved a share repurchase program on Thursday, December 14th that authorizes the company to repurchase 250,000 outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Separately, TheStreet upgraded Preformed Line Products from a “c+” rating to a “b-” rating in a research note on Monday, August 21st.

In other news, VP J Cecil Curlee, Jr. sold 3,130 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $68.50, for a total value of $214,405.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 37.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of Preformed Line Products by 10.8% in the second quarter. California State Teachers Retirement System now owns 5,603 shares of the technology company’s stock worth $260,000 after buying an additional 544 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Preformed Line Products by 73.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,494 shares of the technology company’s stock worth $162,000 after purchasing an additional 1,479 shares during the period. Finally, State Street Corp raised its holdings in Preformed Line Products by 6.6% in the 2nd quarter. State Street Corp now owns 44,133 shares of the technology company’s stock worth $2,051,000 after purchasing an additional 2,722 shares during the period. Hedge funds and other institutional investors own 44.88% of the company’s stock.

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Preformed Line Products Company Profile

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.

Dividend History for Preformed Line Products (NASDAQ:PLPC)

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