Encore Wire Co. (NASDAQ:WIRE) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in shares of Encore Wire Co. (NASDAQ:WIRE - Free Report) by 36.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,470 shares of the electronics maker's stock after acquiring an additional 9,142 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.22% of Encore Wire worth $7,363,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WIRE. LSV Asset Management increased its stake in shares of Encore Wire by 21.6% in the 3rd quarter. LSV Asset Management now owns 574,828 shares of the electronics maker's stock valued at $104,883,000 after acquiring an additional 102,062 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Encore Wire by 10.7% in the fourth quarter. Pacer Advisors Inc. now owns 472,555 shares of the electronics maker's stock worth $100,938,000 after purchasing an additional 45,863 shares during the period. American Century Companies Inc. boosted its position in shares of Encore Wire by 7.7% during the third quarter. American Century Companies Inc. now owns 310,950 shares of the electronics maker's stock worth $56,736,000 after purchasing an additional 22,235 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 buying an additional 3,197 shares during the period. Finally, Seizert Capital Partners LLC acquired a new stake in Encore Wire during the 3rd quarter worth $24,143,000. Institutional investors own 99.82% of the company's stock.

Encore Wire Price Performance

NASDAQ:WIRE traded down $0.18 on Wednesday, hitting $281.02. 111,288 shares of the company's stock were exchanged, compared to its average volume of 257,690. The company has a market cap of $4.44 billion, a P/E ratio of 14.92 and a beta of 1.28. The firm has a 50-day moving average price of $257.75 and a 200-day moving average price of $224.81. 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 issued its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 EPS for the quarter, beating the consensus estimate of $3.65 by $0.27. The firm 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 quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.50 earnings per share. On average, research analysts expect that Encore Wire Co. will post 21.24 earnings per share for the current fiscal year.

Encore Wire Dividend Announcement

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

Analysts Set New Price Targets

WIRE has been the subject of a number of research analyst reports. DA Davidson cut Encore Wire from a "buy" rating to a "neutral" rating and set a $295.00 target price for the company. in a research note on Tuesday, April 16th. Sidoti reiterated a "neutral" rating and issued a $290.00 price target on shares of Encore Wire in a report on Tuesday, April 16th. StockNews.com assumed coverage on shares of Encore Wire in a report on Friday, May 3rd. They set a "hold" rating on the stock. Finally, CJS Securities reaffirmed a "market perform" rating on shares of Encore Wire in a research note 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.