Preformed Line Products (PLPC) to Repurchase 250,000 Outstanding Stock
Preformed Line Products (NASDAQ:PLPC) announced that its board has authorized a stock buyback program, which authorizes the company to repurchase 250,000 shares on Thursday, December 14th, EventVestor reports. This repurchase authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Separately, TheStreet raised shares of Preformed Line Products from a “c+” rating to a “b-” rating in a research report on Monday, August 21st.
Preformed Line Products (NASDAQ:PLPC) traded up $1.62 on Friday, hitting $74.70. 32,693 shares of the stock traded hands, compared to its average volume of 13,505. The company has a market cap of $388.76, a P/E ratio of 21.95 and a beta of 1.31. Preformed Line Products has a one year low of $44.50 and a one year high of $85.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.15 and a quick ratio of 2.00.
Preformed Line Products (NASDAQ:PLPC) last released its earnings results on Friday, November 3rd. The technology company reported $1.23 earnings per share for the quarter. The company had revenue of $99.24 million during the quarter. Preformed Line Products had a net margin of 4.64% and a return on equity of 7.30%.
In other news, VP J Cecil Curlee, Jr. sold 3,130 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $68.50, for a total value of $214,405.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 37.70% of the stock is currently owned by insiders.
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.
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