Arizona State Retirement System Has $938,000 Stock Position in Encore Wire Co. (NASDAQ:WIRE)

Arizona State Retirement System lessened its position in shares of Encore Wire Co. (NASDAQ:WIRE) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,046 shares of the electronics maker’s stock after selling 269 shares during the quarter. Arizona State Retirement System’s holdings in Encore Wire were worth $938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of WIRE. Envestnet Asset Management Inc. grew its holdings in shares of Encore Wire by 1,243.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 618,565 shares of the electronics maker’s stock worth $7,788,000 after purchasing an additional 572,539 shares in the last quarter. Norges Bank acquired a new stake in shares of Encore Wire during the 4th quarter worth approximately $25,846,000. Millennium Management LLC grew its holdings in shares of Encore Wire by 364.9% during the 4th quarter. Millennium Management LLC now owns 150,871 shares of the electronics maker’s stock worth $20,754,000 after purchasing an additional 118,416 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Encore Wire by 42.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 272,210 shares of the electronics maker’s stock worth $31,051,000 after purchasing an additional 81,185 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Encore Wire by 61.4% in the 1st quarter. LSV Asset Management now owns 210,114 shares of the electronics maker’s stock valued at $38,940,000 after buying an additional 79,918 shares in the last quarter. Institutional investors and hedge funds own 99.82% of the company’s stock.

Encore Wire Stock Performance

Shares of WIRE opened at $178.83 on Wednesday. The stock has a fifty day moving average price of $174.04 and a two-hundred day moving average price of $171.25. Encore Wire Co. has a 52-week low of $130.52 and a 52-week high of $206.74. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 6.98 and a beta of 1.28.

Encore Wire Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, October 6th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.08 annualized dividend and a yield of 0.04%. Encore Wire’s payout ratio is 0.31%.

Analyst Ratings Changes

Several analysts recently commented on WIRE shares. CJS Securities started coverage on Encore Wire in a research note on Wednesday, October 11th. They issued an “outperform” rating and a $235.00 price target on the stock. StockNews.com raised Encore Wire from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Finally, DA Davidson decreased their price target on Encore Wire from $250.00 to $240.00 in a research note on Thursday, July 27th.

Encore Wire Company Profile

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. The company offers NM-B cables, UF-B cables, THHN/THWN-2, XHHW-2, USE-2, RHH/RHW-2, and other types of wire products, including SEU, SER, photovoltaic, URD, tray cables, metal-clads, and armored cables.