Cleveland, May 26, 2026, 19:01 EDT
Preformed Line Products Company (PLPC) finished Tuesday up 5.3% at $376.89, marking a new 52-week high during the day at $378.56. Shares continued their strong 2026 performance. The Nasdaq power and communications hardware maker is now valued near $1.84 billion.
The rally drew attention as it landed on the first U.S. session after the Memorial Day holiday. Nasdaq was shut on Monday, May 25, with the exchange’s 2026 calendar showing a full-day closure. Trading resumed Tuesday, which gave investors their opening to make moves after the weekend.
PLPC was not the only mover. U.S. stocks pushed higher, with the Nasdaq Composite adding 1.2% and the Russell 2000 climbing 1.8%, per Associated Press market data. Small-caps are shares of smaller firms; PLPC tends to move with that group, not the big tech giants.
Powell Industries jumped 4.5%. Hubbell was up 0.7% and Belden increased 2.8%. They are not perfect stand-ins for PLPC, but some of the same stories on grid, power gear and communications spending show up across the sector.
PLP’s most recent numbers came with its April Q1 release. The company reported net sales up 19% to $176.3 million, driven by a 26% bump from its U.S. unit. Diluted EPS dropped to $2.14, down from $2.33 a year ago. Executive Chairman Rob Ruhlman pointed to “continued resilience” and “rising demand,” but also said tariffs, higher manufacturing costs, and commodity swings are squeezing margins. PR Newswire
Gross margin came in at 31.3%, down from 32.8% last year. Net income to shareholders dropped to $10.5 million from $11.5 million. Cash and restricted cash totaled $69.5 million as of March 31. Debt-to-equity from bank loans stood at 8.9%.
PLP kept up its focus on power infrastructure, announcing May 5 it bought Delta Star Conetores Eletricos Ltda., a Brazilian supplier of high-voltage and extra-high-voltage substation connectors. CEO Dennis McKenna said the move is a “natural extension” of PLP’s global substation strategy. PLP
Opinions have turned more split after recent gains. Freedom Broker’s Sergey Glinyanov downgraded PLPC to hold from buy on May 1, but raised his target to $372 from $275 after the company’s first-quarter numbers. Glinyanov cited steady demand in energy and communications, Investing.com reported. He also flagged higher manufacturing costs, tariffs and aluminum prices as pressures.
The risk is the stock may have baked in a lot of good news already. Its price-to-earnings ratio is over 50, which doesn’t leave much margin if sales growth falters, costs hold up, or utility and broadband customers put off spending. In its latest 10-Q, the company said tariffs and geopolitics are still headwinds for raw-material imports and commodity prices, and warned that more price hikes could hit demand.
PLPC keeps the tape for now. The stock finished Tuesday close to its high of the day, and the pressure is on for Q2 orders and margins to prove the move. Shares have outpaced earnings so far.
