DekaBank Deutsche Girozentrale Raises Stock Position in Encore Wire Co. (NASDAQ:WIRE)

DekaBank Deutsche Girozentrale grew its stake in shares of Encore Wire Co. (NASDAQ:WIRE - Free Report) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,324 shares of the electronics maker's stock after purchasing an additional 10,366 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.31% of Encore Wire worth $10,668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in WIRE. Stratos Wealth Advisors LLC raised its holdings in shares of Encore Wire by 0.9% in the 4th quarter. Stratos Wealth Advisors LLC now owns 6,691 shares of the electronics maker's stock worth $1,429,000 after acquiring an additional 62 shares during the last quarter. Black Swift Group LLC acquired a new stake in shares of Encore Wire in the 4th quarter worth about $214,000. Blue Trust Inc. raised its holdings in shares of Encore Wire by 69.2% in the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker's stock worth $43,000 after acquiring an additional 83 shares during the last quarter. Tectonic Advisors LLC raised its holdings in shares of Encore Wire by 2.0% in the 4th quarter. Tectonic Advisors LLC now owns 4,805 shares of the electronics maker's stock worth $1,026,000 after acquiring an additional 94 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of Encore Wire by 33.4% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 2,694 shares of the electronics maker's stock worth $575,000 after acquiring an additional 675 shares during the last quarter. Institutional investors and hedge funds own 99.82% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Encore Wire from a "buy" rating to a "hold" rating in a report on Friday, March 22nd.

Encore Wire Stock Performance

NASDAQ:WIRE traded down $2.81 on Wednesday, hitting $258.30. The stock had a trading volume of 129,158 shares, compared to its average volume of 181,946. The stock has a market cap of $4.08 billion, a P/E ratio of 12.05 and a beta of 1.31. Encore Wire Co. has a 1 year low of $138.20 and a 1 year high of $271.90. The firm's fifty day simple moving average is $238.02 and its two-hundred day simple moving average is $211.07.

Encore Wire (NASDAQ:WIRE - Get Free Report) last released its earnings results on Wednesday, February 14th. The electronics maker reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $4.05 by $0.05. Encore Wire had a net margin of 14.50% and a return on equity of 20.92%. The firm had revenue of $633.78 million during the quarter, compared to the consensus estimate of $601.48 million. During the same period in the prior year, the firm earned $8.28 EPS. The company's revenue was down 8.7% compared to the same quarter last year. Equities research analysts predict that Encore Wire Co. will post 16.52 EPS for the current year.

Encore Wire Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 5th will be given 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 is Thursday, April 4th. Encore Wire's dividend payout ratio is currently 0.37%.

Encore Wire Profile

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.