First Trust Advisors LP Buys 11,405 Shares of Encore Wire Co. (NASDAQ:WIRE)

First Trust Advisors LP boosted its stake in Encore Wire Co. (NASDAQ:WIREFree Report) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,841 shares of the electronics maker’s stock after purchasing an additional 11,405 shares during the quarter. First Trust Advisors LP owned about 0.85% of Encore Wire worth $28,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. lifted its position in Encore Wire by 10.7% in the 4th quarter. Pacer Advisors Inc. now owns 472,555 shares of the electronics maker’s stock worth $100,938,000 after buying an additional 45,863 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Encore Wire by 7.7% in the 3rd quarter. American Century Companies Inc. now owns 310,950 shares of the electronics maker’s stock worth $56,736,000 after acquiring an additional 22,235 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Encore Wire by 1.5% in the 3rd 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. grew its holdings in shares of Encore Wire by 226.5% during the 3rd 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 during the last quarter. Finally, Norges Bank purchased a new position in Encore Wire in the 4th quarter worth $20,223,000. 99.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. CJS Securities restated a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. DA Davidson lowered 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. Sidoti reaffirmed a “neutral” rating and issued a $290.00 price target on shares of Encore Wire in a research note on Tuesday, April 16th. Finally, StockNews.com initiated coverage on Encore Wire in a research note on Tuesday, June 4th. They set a “hold” rating for the company.

Read Our Latest Stock Report on WIRE

Encore Wire Trading Up 0.1 %

Encore Wire stock opened at $288.90 on Tuesday. The firm has a market cap of $4.56 billion, a P/E ratio of 15.33 and a beta of 1.23. Encore Wire Co. has a 1-year low of $150.51 and a 1-year high of $295.90. The firm has a 50-day moving average of $279.90 and a 200-day moving average of $241.35.

Encore Wire (NASDAQ:WIREGet Free Report) last released its quarterly earnings data 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 business 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 business’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $6.50 EPS. Research analysts forecast that Encore Wire Co. will post 21.24 earnings per share for the current fiscal year.

Encore Wire Announces Dividend

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