Mutual of America Capital Management LLC Trims Holdings in Encore Wire Co. (NASDAQ:WIRE)

Mutual of America Capital Management LLC cut its holdings in shares of Encore Wire Co. (NASDAQ:WIRE - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,286 shares of the electronics maker's stock after selling 3,504 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.14% of Encore Wire worth $4,760,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of 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 purchasing an additional 83 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Encore Wire in the first quarter worth approximately $66,000. IFP Advisors Inc increased its position in shares of Encore Wire by 231.5% in the second quarter. IFP Advisors Inc now owns 358 shares of the electronics maker's stock worth $67,000 after purchasing an additional 250 shares during the last quarter. Beaird Harris Wealth Management LLC bought a new position in shares of Encore Wire in the third quarter worth approximately $91,000. Finally, Fortis Capital Advisors LLC bought a new position in shares of Encore Wire in the fourth quarter worth approximately $121,000. 99.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WIRE has been the topic of a number of recent research reports. Sidoti reiterated a "neutral" rating and set a $290.00 price target on shares of Encore Wire in a research report on Tuesday. StockNews.com lowered Encore Wire from a "buy" rating to a "hold" rating in a research note on Friday, March 22nd. Finally, DA Davidson reissued a "neutral" rating and set a $295.00 price objective on shares of Encore Wire in a research note on Tuesday.

Encore Wire Trading Down 0.5 %

NASDAQ:WIRE traded down $1.53 during mid-day trading on Tuesday, reaching $289.70. The company's stock had a trading volume of 1,189,987 shares, compared to its average volume of 234,094. Encore Wire Co. has a 12-month low of $138.20 and a 12-month high of $295.90. The firm's fifty day moving average price is $240.49 and its two-hundred day moving average price is $213.22. The stock has a market cap of $4.57 billion, a P/E ratio of 13.52 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 earnings per share for the quarter, topping analysts' consensus estimates of $4.05 by $0.05. Encore Wire had a return on equity of 20.92% and a net margin of 14.50%. The business had revenue of $633.78 million during the quarter, compared to analyst estimates of $601.48 million. During the same quarter in the previous year, the firm earned $8.28 EPS. Encore Wire's revenue was down 8.7% on a year-over-year basis. Analysts predict that Encore Wire Co. will post 16.52 earnings per share for the current fiscal year.

Encore Wire Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 5th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, April 4th. Encore Wire's dividend payout ratio (DPR) is 0.37%.

About Encore Wire

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.