Encore Wire Co. (NASDAQ:WIRE) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in shares of Encore Wire Co. (NASDAQ:WIREFree Report) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,359 shares of the electronics maker’s stock after selling 51 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Encore Wire were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WIRE. Millington Financial Advisors LLC grew its position in Encore Wire by 3.3% in the 3rd quarter. Millington Financial Advisors LLC now owns 8,800 shares of the electronics maker’s stock valued at $1,606,000 after acquiring an additional 281 shares in the last quarter. Private Advisor Group LLC acquired a new position in Encore Wire in the 3rd quarter valued at about $205,000. Barclays PLC grew its position in Encore Wire by 29.5% in the 3rd quarter. Barclays PLC now owns 15,921 shares of the electronics maker’s stock valued at $2,904,000 after acquiring an additional 3,630 shares in the last quarter. New York State Common Retirement Fund grew its position in Encore Wire by 4.6% in the 3rd quarter. New York State Common Retirement Fund now owns 8,754 shares of the electronics maker’s stock valued at $1,597,000 after acquiring an additional 386 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Encore Wire in the 3rd quarter valued at about $529,000. 99.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WIRE has been the subject of several research reports. Sidoti reaffirmed a “neutral” rating and issued a $290.00 target price on shares of Encore Wire in a research report on Tuesday, April 16th. 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. StockNews.com started coverage on Encore Wire in a research report on Tuesday. They set a “hold” rating for the company. Finally, CJS Securities reissued a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th.

Check Out Our Latest Report on WIRE

Encore Wire Stock Performance

Shares of Encore Wire stock opened at $288.62 on Thursday. The business has a 50-day simple moving average of $278.43 and a 200-day simple moving average of $239.03. The company has a market cap of $4.56 billion, a PE ratio of 15.31 and a beta of 1.23. Encore Wire Co. has a one year low of $150.51 and a one year high of $295.90.

Encore Wire (NASDAQ:WIREGet Free Report) last posted its earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.65 by $0.27. The firm had revenue of $632.66 million during the quarter, compared to analysts’ expectations of $579.64 million. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.50 earnings per share. On average, sell-side analysts predict that Encore Wire Co. will post 21.24 earnings per share for the current fiscal year.

Encore Wire Dividend Announcement

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 paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend 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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