Encore Wire Co. (NASDAQ:WIRE) Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC boosted its holdings in Encore Wire Co. (NASDAQ:WIREFree Report) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 978 shares of the electronics maker’s stock after acquiring an additional 66 shares during the period. Parallel Advisors LLC’s holdings in Encore Wire were worth $209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Encore Wire in the 4th quarter worth approximately $20,223,000. First Dallas Securities Inc. lifted its stake in Encore Wire by 226.5% in the third quarter. First Dallas Securities Inc. now owns 97,505 shares of the electronics maker’s stock valued at $17,791,000 after buying an additional 67,640 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Encore Wire by 501.7% during the third quarter. Stifel Financial Corp now owns 74,015 shares of the electronics maker’s stock valued at $13,505,000 after acquiring an additional 61,714 shares during the period. Pacer Advisors Inc. grew its position in shares of Encore Wire by 10.7% during the fourth quarter. Pacer Advisors Inc. now owns 472,555 shares of the electronics maker’s stock worth $100,938,000 after acquiring an additional 45,863 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Encore Wire by 7.7% in the 3rd quarter. American Century Companies Inc. now owns 310,950 shares of the electronics maker’s stock valued at $56,736,000 after purchasing an additional 22,235 shares during the last quarter. 99.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DA Davidson downgraded Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective for the company. in a research report on Tuesday, April 16th. CJS Securities reissued a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th. Sidoti reiterated a “neutral” rating and issued a $290.00 target price on shares of Encore Wire in a research report on Tuesday, April 16th. Finally, StockNews.com assumed coverage on shares of Encore Wire in a research note on Monday, May 27th. They set a “hold” rating on the stock.

Read Our Latest Research Report on WIRE

Encore Wire Stock Performance

WIRE opened at $288.73 on Monday. The stock’s fifty day moving average is $276.06 and its 200-day moving average is $237.34. Encore Wire Co. has a one year low of $150.51 and a one year high of $295.90. The company has a market capitalization of $4.56 billion, a PE ratio of 15.32 and a beta of 1.28.

Encore Wire (NASDAQ:WIREGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.27. The company had revenue of $632.66 million during the quarter, compared to the consensus estimate of $579.64 million. Encore Wire had a net margin of 12.45% and a return on equity of 17.77%. Encore Wire’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $6.50 EPS. On average, equities research analysts forecast that Encore Wire Co. will post 21.24 EPS for the current fiscal year.

Encore Wire Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be 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 is Friday, July 5th. Encore Wire’s payout ratio is 0.42%.

Encore Wire Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Encore Wire (NASDAQ:WIRE)

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