Preformed Line Products (PLPC) to Repurchase 250,000 Stock

Preformed Line Products (NASDAQ:PLPC) announced that its Board of Directors has approved a stock buyback plan, which permits the company to repurchase 250,000 shares on Thursday, December 14th, EventVestor reports. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Shares of Preformed Line Products (PLPC) opened at $75.49 on Tuesday. The stock has a market capitalization of $380.33, a P/E ratio of 22.43 and a beta of 1.32. The company has a current ratio of 3.15, a quick ratio of 2.00 and a debt-to-equity ratio of 0.13. Preformed Line Products has a 12-month low of $44.50 and a 12-month high of $85.63.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. Preformed Line Products’s payout ratio is currently 24.02%.

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

In other Preformed Line Products news, VP J Cecil Curlee, Jr. sold 3,130 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $68.50, for a total transaction of $214,405.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.70% of the stock is owned by corporate insiders.

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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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