GAMMA Investing LLC Takes Position in Encore Wire Co. (NASDAQ:WIRE)

GAMMA Investing LLC acquired a new position in shares of Encore Wire Co. (NASDAQ:WIRE) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 440 shares of the electronics maker’s stock, valued at approximately $99,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Linden Thomas Advisory Services LLC bought a new position in Encore Wire during the 4th quarter worth $225,000. Redmont Wealth Advisors LLC boosted its position in Encore Wire by 26.8% during the 4th quarter. Redmont Wealth Advisors LLC now owns 4,172 shares of the electronics maker’s stock worth $891,000 after acquiring an additional 882 shares during the period. Federated Hermes Inc. boosted its position in Encore Wire by 32.7% during the 4th quarter. Federated Hermes Inc. now owns 7,955 shares of the electronics maker’s stock worth $1,699,000 after acquiring an additional 1,959 shares during the period. Oakworth Capital Inc. boosted its position in Encore Wire by 3.4% during the 4th quarter. Oakworth Capital Inc. now owns 66,879 shares of the electronics maker’s stock worth $14,285,000 after acquiring an additional 2,183 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Encore Wire by 10.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,125 shares of the electronics maker’s stock worth $668,000 after acquiring an additional 283 shares during the period. 99.82% of the stock is currently owned by institutional investors.

Encore Wire Trading Up 0.3 %

NASDAQ:WIRE opened at $284.89 on Monday. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 15.11 and a beta of 1.31. Encore Wire Co. has a 1-year low of $146.36 and a 1-year high of $295.90. The business’s fifty day moving average price is $249.52 and its 200 day moving average price is $219.73.

Encore Wire (NASDAQ:WIRE) last posted its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.27. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The firm had revenue of $632.66 million for the quarter, compared to analyst estimates of $579.64 million. During the same period in the previous year, the firm earned $6.50 earnings per share. Encore Wire’s quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts forecast that Encore Wire Co. will post 21.23 earnings per share for the current year.

Encore Wire Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, April 4th. Encore Wire’s payout ratio is currently 0.42%.

Analyst Ratings Changes

Several analysts have recently weighed in on WIRE shares. CJS Securities restated a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th. StockNews.com began coverage on Encore Wire in a report on Thursday. They set a “hold” rating for the company. DA Davidson downgraded Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 target price for the company. in a report on Tuesday, April 16th. Finally, Sidoti reaffirmed a “neutral” rating and set a $290.00 target price on shares of Encore Wire in a report on Tuesday, April 16th.

Encore Wire Company 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.