Encore Wire Co. (NASDAQ:WIRE) Holdings Decreased by TD Asset Management Inc

TD Asset Management Inc reduced its stake in shares of Encore Wire Co. (NASDAQ:WIREFree Report) by 35.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,300 shares of the electronics maker’s stock after selling 2,400 shares during the quarter. TD Asset Management Inc’s holdings in Encore Wire were worth $918,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. raised its stake 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 valued at $100,938,000 after purchasing an additional 45,863 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Encore Wire by 7.7% during the third 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Encore Wire by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 219,336 shares of the electronics maker’s stock valued at $40,020,000 after purchasing an additional 3,197 shares in the last quarter. First Dallas Securities Inc. raised its stake in shares of Encore Wire by 226.5% during the third quarter. First Dallas Securities Inc. now owns 97,505 shares of the electronics maker’s stock valued at $17,791,000 after purchasing an additional 67,640 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Encore Wire during the fourth quarter valued at about $20,223,000. 99.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on WIRE. DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 target price on the stock. in a report on Tuesday, April 16th. StockNews.com began coverage on Encore Wire in a report on Tuesday, June 4th. They set a “hold” rating on the stock. Sidoti reaffirmed a “neutral” rating and set a $290.00 target price on shares of Encore Wire in a report on Tuesday, April 16th. Finally, CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th.

View Our Latest Stock Report on WIRE

Encore Wire Price Performance

Shares of Encore Wire stock opened at $288.70 on Monday. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 15.32 and a beta of 1.23. Encore Wire Co. has a 52-week low of $150.51 and a 52-week high of $295.90. The stock has a 50-day simple moving average of $279.47 and a 200-day simple moving average of $240.69.

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. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The firm had revenue of $632.66 million during the quarter, compared to analyst estimates of $579.64 million. During the same period in the previous year, the company earned $6.50 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Encore Wire Co. will post 21.24 earnings per share for the current year.

Encore Wire Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.03%. Encore Wire’s dividend payout ratio (DPR) is presently 0.42%.

Encore Wire Company 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.

See Also

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

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