Dimensional Fund Advisors LP decreased its position in shares of Encore Wire Co. (NASDAQ:WIRE - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,319,832 shares of the electronics maker's stock after selling 70,041 shares during the period. Dimensional Fund Advisors LP owned 8.36% of Encore Wire worth $281,917,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in Encore Wire by 26.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 49,324 shares of the electronics maker's stock valued at $10,668,000 after purchasing an additional 10,366 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of Encore Wire during the third quarter worth $1,840,000. Stifel Financial Corp grew its stake in Encore Wire by 501.7% during the third quarter. Stifel Financial Corp now owns 74,015 shares of the electronics maker's stock valued at $13,505,000 after acquiring an additional 61,714 shares in the last quarter. Federated Hermes Inc. increased its holdings in Encore Wire by 2,928.3% in the 3rd quarter. Federated Hermes Inc. now owns 5,996 shares of the electronics maker's stock valued at $1,094,000 after acquiring an additional 5,798 shares during the last quarter. Finally, Quantedge Capital Pte Ltd lifted its stake in Encore Wire by 19.2% in the 3rd quarter. Quantedge Capital Pte Ltd now owns 27,272 shares of the electronics maker's stock worth $4,976,000 after purchasing an additional 4,400 shares in the last quarter. Hedge funds and other institutional investors own 99.82% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. StockNews.com began coverage on Encore Wire in a research report on Saturday. They set a "hold" rating for the company. Sidoti reaffirmed a "neutral" rating and set a $290.00 price objective on shares of Encore Wire in a report on Tuesday, April 16th. CJS Securities reissued a "market perform" rating on shares of Encore Wire in a report on Friday, April 19th. Finally, DA Davidson cut shares of Encore Wire from a "buy" rating to a "neutral" rating and set a $295.00 price target on the stock. in a research report on Tuesday, April 16th.
View Our Latest Research Report on WIRE
Encore Wire Price Performance
Shares of WIRE traded down $0.40 during midday trading on Monday, hitting $280.50. The stock had a trading volume of 234,095 shares, compared to its average volume of 254,967. The stock's 50 day moving average is $260.24 and its 200 day moving average is $227.13. The firm has a market cap of $4.43 billion, a PE ratio of 14.96 and a beta of 1.28. Encore Wire Co. has a 1 year low of $150.51 and a 1 year high of $295.90.
Encore Wire (NASDAQ:WIRE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share for the quarter, topping analysts' consensus estimates of $3.65 by $0.27. Encore Wire had a net margin of 12.45% and a return on equity of 17.77%. The company had revenue of $632.66 million for the quarter, compared to analyst estimates of $579.64 million. During the same period in the prior year, the company posted $6.50 EPS. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities 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 disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, April 4th. Encore Wire's dividend payout ratio (DPR) is presently 0.42%.
Encore Wire Profile
(
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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