LSV Asset Management Sells 7,398 Shares of Encore Wire Co. (NASDAQ:WIRE)

LSV Asset Management decreased its position in Encore Wire Co. (NASDAQ:WIRE - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 567,430 shares of the electronics maker's stock after selling 7,398 shares during the period. LSV Asset Management owned about 3.60% of Encore Wire worth $121,203,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Encore Wire by 15.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 15,258 shares of the electronics maker's stock valued at $2,784,000 after buying an additional 2,050 shares in the last quarter. Raymond James & Associates lifted its stake in Encore Wire by 6.7% in the 3rd quarter. Raymond James & Associates now owns 26,128 shares of the electronics maker's stock valued at $4,767,000 after purchasing an additional 1,636 shares during the last quarter. Shariaportfolio Inc. bought a new position in Encore Wire during the third quarter worth about $1,878,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Encore Wire by 14.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,842 shares of the electronics maker's stock worth $519,000 after buying an additional 359 shares during the last quarter. Finally, Freedom Day Solutions LLC acquired a new stake in shares of Encore Wire during the 3rd quarter worth about $1,420,000. Institutional investors and hedge funds own 99.82% of the company's stock.

Encore Wire Trading Up 0.8 %

Shares of WIRE traded up $2.22 during trading hours on Friday, reaching $283.04. 170,093 shares of the stock traded hands, compared to its average volume of 517,812. The stock has a fifty day simple moving average of $255.62 and a 200 day simple moving average of $222.93. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 15.02 and a beta of 1.28. Encore Wire Co. has a 52 week low of $150.51 and a 52 week high of $295.90.

Encore Wire (NASDAQ:WIRE - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The electronics maker reported $3.92 EPS for the quarter, beating analysts' consensus estimates of $3.65 by $0.27. The company had revenue of $632.66 million during the quarter, compared to analyst estimates of $579.64 million. Encore Wire had a net margin of 12.45% and a return on equity of 17.77%. Encore Wire's revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $6.50 earnings per share. Analysts predict that Encore Wire Co. will post 21.24 earnings per share for the current fiscal year.

Encore Wire Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, April 4th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.03%. Encore Wire's dividend payout ratio is presently 0.42%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Sidoti reissued a "neutral" rating and issued a $290.00 price target on shares of Encore Wire in a report on Tuesday, April 16th. StockNews.com began coverage on shares of Encore Wire in a report on Friday. They issued a "hold" rating for the company. DA Davidson lowered Encore Wire from a "buy" rating to a "neutral" rating and set a $295.00 price objective on the stock. in a research note on Tuesday, April 16th. Finally, CJS Securities reaffirmed a "market perform" rating on shares of Encore Wire in a research report on Friday, April 19th.

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.