Encore Wire Co. (NASDAQ:WIRE) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of Encore Wire Co. (NASDAQ:WIRE) by 13.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,286 shares of the electronics maker’s stock after selling 3,504 shares during the period. Mutual of America Capital Management LLC’s holdings in Encore Wire were worth $4,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its position in Encore Wire by 26.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 49,324 shares of the electronics maker’s stock worth $10,668,000 after buying an additional 10,366 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of Encore Wire in the third quarter valued at approximately $1,840,000. Stifel Financial Corp boosted its stake in shares of Encore Wire by 501.7% in the third quarter. Stifel Financial Corp now owns 74,015 shares of the electronics maker’s stock valued at $13,505,000 after buying an additional 61,714 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Encore Wire by 2,928.3% in the third quarter. Federated Hermes Inc. now owns 5,996 shares of the electronics maker’s stock valued at $1,094,000 after buying an additional 5,798 shares in the last quarter. Finally, Quantedge Capital Pte Ltd boosted its stake in shares of Encore Wire by 19.2% in the third quarter. Quantedge Capital Pte Ltd now owns 27,272 shares of the electronics maker’s stock valued at $4,976,000 after buying an additional 4,400 shares in the last quarter. Institutional investors and hedge funds own 99.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Encore Wire from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd.

Encore Wire Stock Performance

Shares of WIRE stock opened at $291.23 on Tuesday. The stock has a fifty day moving average price of $240.49 and a 200 day moving average price of $213.22. The stock has a market cap of $4.60 billion, a PE ratio of 13.59 and a beta of 1.31. Encore Wire Co. has a 1 year low of $138.20 and a 1 year high of $295.90.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings data on Wednesday, February 14th. The electronics maker reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.05. The firm had revenue of $633.78 million during the quarter, compared to analysts’ expectations of $601.48 million. Encore Wire had a return on equity of 20.92% and a net margin of 14.50%. Encore Wire’s revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $8.28 earnings per share. As a group, equities research analysts predict that Encore Wire Co. will post 16.52 earnings per share for the current year.

Encore Wire Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, April 4th. This represents a $0.08 annualized dividend and a yield of 0.03%. Encore Wire’s dividend payout ratio is presently 0.37%.

Encore Wire Profile

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. It 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.