Encore Wire Co. (NASDAQ:WIRE) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lifted its position in Encore Wire Co. (NASDAQ:WIRE) by 14.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,249 shares of the electronics maker’s stock after acquiring an additional 158 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Encore Wire were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC boosted its stake in Encore Wire by 1.3% during the 4th quarter. SummerHaven Investment Management LLC now owns 4,104 shares of the electronics maker’s stock worth $877,000 after purchasing an additional 51 shares during the last quarter. Natixis Advisors L.P. boosted its position in Encore Wire by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 10,213 shares of the electronics maker’s stock worth $2,181,000 after acquiring an additional 53 shares during the last quarter. Stratos Wealth Advisors LLC grew its stake in Encore Wire by 0.9% during the 4th quarter. Stratos Wealth Advisors LLC now owns 6,691 shares of the electronics maker’s stock valued at $1,429,000 after acquiring an additional 62 shares in the last quarter. Lido Advisors LLC raised its holdings 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. Finally, Exchange Traded Concepts LLC lifted 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 worth $977,000 after purchasing an additional 75 shares in the last quarter. 99.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WIRE shares. StockNews.com began coverage on Encore Wire in a research report on Friday, May 3rd. They issued a “hold” rating for the company. CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a research note on Friday, April 19th. Sidoti reissued a “neutral” rating and issued a $290.00 price objective on shares of Encore Wire in a report on Tuesday, April 16th. Finally, DA Davidson cut shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target for the company. in a research note on Tuesday, April 16th.

Encore Wire Stock Performance

Shares of WIRE stock opened at $280.36 on Friday. The firm has a market cap of $4.43 billion, a P/E ratio of 14.87 and a beta of 1.28. The firm’s 50 day moving average price is $259.46 and its 200-day moving average price is $225.59. Encore Wire Co. has a one year low of $150.51 and a one year high of $295.90.

Encore Wire (NASDAQ:WIRE) last released its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.65 by $0.27. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The company had revenue of $632.66 million for the quarter, compared to analysts’ expectations of $579.64 million. During the same period in the prior year, the firm earned $6.50 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. As a group, research analysts predict that Encore Wire Co. will post 21.24 EPS for the current fiscal year.

Encore Wire Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, April 4th. Encore Wire’s dividend payout ratio (DPR) 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.