Encore Wire (NASDAQ:WIRE) Sees Strong Trading Volume

Encore Wire Co. (NASDAQ:WIREGet Free Report) saw unusually-high trading volume on Friday . Approximately 70,456 shares were traded during mid-day trading, a decline of 74% from the previous session’s volume of 266,349 shares.The stock last traded at $288.82 and had previously closed at $288.65.

Analyst Ratings Changes

A number of research analysts have commented on WIRE shares. CJS Securities reiterated a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. Sidoti reiterated a “neutral” rating and set a $290.00 price target on shares of Encore Wire in a research report on Tuesday, April 16th. DA Davidson cut shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target on the stock. in a research report on Tuesday, April 16th. Finally, StockNews.com started coverage on shares of Encore Wire in a research report on Tuesday, June 4th. They set a “hold” rating on the stock.

Check Out Our Latest Report on Encore Wire

Encore Wire Price Performance

The firm has a market cap of $4.56 billion, a PE ratio of 15.32 and a beta of 1.23. The firm has a 50-day simple moving average of $279.47 and a 200 day simple moving average of $240.36.

Encore Wire (NASDAQ:WIREGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share (EPS) 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 analyst estimates of $579.64 million. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. Encore Wire’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.50 EPS. Sell-side analysts forecast that Encore Wire Co. will post 21.24 earnings per share for the current fiscal year.

Encore Wire Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be issued a $0.02 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.08 annualized dividend and a yield of 0.03%. Encore Wire’s payout ratio is 0.42%.

Institutional Investors Weigh In On Encore Wire

A number of large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its stake in shares of Encore Wire by 26.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 49,324 shares of the electronics maker’s stock valued at $10,668,000 after acquiring an additional 10,366 shares during the period. Chesapeake Capital Corp IL bought a new position in shares of Encore Wire during the 4th quarter valued at approximately $871,000. Stifel Financial Corp grew its stake in shares of Encore Wire by 501.7% during the 3rd 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. Federated Hermes Inc. grew its stake in shares of Encore Wire by 2,928.3% during the 3rd quarter. Federated Hermes Inc. now owns 5,996 shares of the electronics maker’s stock valued at $1,094,000 after acquiring an additional 5,798 shares during the period. Finally, Quantedge Capital Pte Ltd lifted its holdings in Encore Wire by 19.2% in the 3rd quarter. Quantedge Capital Pte Ltd now owns 27,272 shares of the electronics maker’s stock worth $4,976,000 after purchasing an additional 4,400 shares in the last quarter. 99.82% of the stock is currently owned by institutional investors.

About Encore Wire

(Get 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.

Featured Stories

Receive News & Ratings for Encore Wire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Wire and related companies with MarketBeat.com's FREE daily email newsletter.