Dakota Wealth Management Makes New Investment in Encore Wire Co. (NASDAQ:WIRE)

Dakota Wealth Management acquired a new stake in Encore Wire Co. (NASDAQ:WIRE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,666 shares of the electronics maker's stock, valued at approximately $1,489,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale boosted its stake in Encore Wire by 26.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 49,324 shares of the electronics maker's stock worth $10,668,000 after buying an additional 10,366 shares during the period. Illinois Municipal Retirement Fund bought a new stake in Encore Wire in the third quarter worth about $1,840,000. Stifel Financial Corp boosted its position in shares of 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 buying an additional 61,714 shares during the period. Federated Hermes Inc. grew its stake in shares of Encore Wire by 2,928.3% during the third quarter. Federated Hermes Inc. now owns 5,996 shares of the electronics maker's stock valued at $1,094,000 after buying an additional 5,798 shares during the last quarter. Finally, Quantedge Capital Pte Ltd raised its holdings in shares of Encore Wire by 19.2% in the third quarter. Quantedge Capital Pte Ltd now owns 27,272 shares of the electronics maker's stock worth $4,976,000 after buying an additional 4,400 shares during the period. Hedge funds and other institutional investors own 99.82% of the company's stock.

Encore Wire Stock Down 0.4 %

Shares of Encore Wire stock traded down $1.19 on Tuesday, reaching $279.31. The stock had a trading volume of 292,117 shares, compared to its average volume of 254,659. The stock has a market capitalization of $4.41 billion, a P/E ratio of 14.82 and a beta of 1.28. The company has a 50 day moving average price of $268.26 and a 200 day moving average price of $232.09. 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 issued its quarterly earnings data on Tuesday, April 23rd. The electronics maker reported $3.92 EPS for the quarter, beating the consensus estimate of $3.65 by $0.27. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The firm had revenue of $632.66 million during the quarter, compared to analyst estimates of $579.64 million. During the same quarter in the prior year, the business posted $6.50 EPS. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts forecast that Encore Wire Co. will post 21.24 earnings per share for the current fiscal year.

Encore Wire Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid 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 Friday, July 5th. Encore Wire's dividend payout ratio (DPR) is presently 0.42%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WIRE. DA Davidson cut Encore Wire from a "buy" rating to a "neutral" rating and set a $295.00 price objective for the company. in a report on Tuesday, April 16th. CJS Securities reissued a "market perform" rating on shares of Encore Wire in a research report on Friday, April 19th. StockNews.com assumed coverage on shares of Encore Wire in a research note on Sunday. They issued a "hold" rating for the company. Finally, Sidoti reissued a "neutral" rating and set a $290.00 price objective on shares of Encore Wire in a report on Tuesday, April 16th.

Encore Wire Company 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.

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