Encore Wire Co. (NASDAQ:WIRE) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its position in shares of Encore Wire Co. (NASDAQ:WIRE) by 32.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,955 shares of the electronics maker’s stock after buying an additional 1,959 shares during the period. Federated Hermes Inc.’s holdings in Encore Wire were worth $1,699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Stratos Wealth Advisors LLC boosted its position in Encore Wire by 0.9% during the fourth quarter. Stratos Wealth Advisors LLC now owns 6,691 shares of the electronics maker’s stock worth $1,429,000 after purchasing an additional 62 shares in the last quarter. Lido Advisors LLC grew its stake in Encore Wire by 3.9% in the 3rd quarter. Lido Advisors LLC now owns 1,850 shares of the electronics maker’s stock valued at $338,000 after acquiring an additional 70 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Encore Wire by 1.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,572 shares of the electronics maker’s stock valued at $977,000 after acquiring an additional 75 shares during the last quarter. Blue Trust Inc. increased its holdings in Encore Wire by 69.2% during the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock valued at $43,000 after acquiring an additional 83 shares in the last quarter. Finally, Tectonic Advisors LLC raised its position in Encore Wire by 2.0% during the fourth quarter. Tectonic Advisors LLC now owns 4,805 shares of the electronics maker’s stock worth $1,026,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 99.82% of the company’s stock.

Analyst Ratings Changes

WIRE has been the subject of a number of recent research reports. Sidoti reissued a “neutral” rating and set a $290.00 price objective on shares of Encore Wire in a research note on Tuesday, April 16th. StockNews.com initiated coverage on Encore Wire in a research report on Thursday, April 25th. They set a “hold” rating for the company. CJS Securities reissued a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th. Finally, DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective on the stock. in a research note on Tuesday, April 16th.

Encore Wire Stock Performance

Shares of NASDAQ WIRE opened at $283.03 on Tuesday. The firm has a market cap of $4.47 billion, a P/E ratio of 15.01 and a beta of 1.31. Encore Wire Co. has a 1 year low of $150.51 and a 1 year high of $295.90. The firm’s 50 day moving average price is $250.63 and its 200 day moving average price is $220.41.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.65 by $0.27. The company had revenue of $632.66 million for the quarter, compared to analyst estimates of $579.64 million. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.50 EPS. As a group, equities analysts predict that Encore Wire Co. will post 21.23 EPS for the current year.

Encore Wire Dividend Announcement

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

About Encore Wire

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.