Encore Wire Co. (NASDAQ:WIRE - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $271.90 and last traded at $269.86, with a volume of 4345 shares changing hands. The stock had previously closed at $268.65.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut Encore Wire from a "buy" rating to a "hold" rating in a research report on Friday, March 22nd.
View Our Latest Stock Analysis on WIRE
Encore Wire Price Performance
The stock has a 50-day moving average price of $236.73 and a 200 day moving average price of $210.13. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 12.57 and a beta of 1.31.
Encore Wire (NASDAQ:WIRE - Get Free Report) last issued its earnings results on Wednesday, February 14th. The electronics maker reported $4.10 EPS for the quarter, topping the consensus estimate of $4.05 by $0.05. The company had revenue of $633.78 million during the quarter, compared to the consensus estimate of $601.48 million. Encore Wire had a return on equity of 20.92% and a net margin of 14.50%. The firm's revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $8.28 EPS. Sell-side analysts expect that Encore Wire Co. will post 16.52 EPS for the current fiscal year.
Encore Wire Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 5th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. Encore Wire's payout ratio is presently 0.37%.
Institutional Investors Weigh In On Encore Wire
A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in Encore Wire by 69.2% in the fourth quarter. Blue Trust Inc. now owns 203 shares of the electronics maker's stock worth $43,000 after acquiring an additional 83 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Encore Wire in the first quarter worth $66,000. IFP Advisors Inc boosted its stake in Encore Wire by 231.5% during the second quarter. IFP Advisors Inc now owns 358 shares of the electronics maker's stock valued at $67,000 after buying an additional 250 shares during the period. Quest Partners LLC bought a new stake in Encore Wire during the fourth quarter valued at $80,000. Finally, Advisory Services Network LLC purchased a new stake in Encore Wire during the fourth quarter valued at about $88,000. Institutional investors own 99.82% of the company's stock.
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.
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