Encore Wire Co. (NASDAQ:WIRE) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its holdings in Encore Wire Co. (NASDAQ:WIRE - Free Report) by 73.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,568 shares of the electronics maker's stock after selling 7,115 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Encore Wire were worth $549,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WIRE. BNP Paribas Financial Markets lifted its stake in shares of Encore Wire by 3.9% during the fourth quarter. BNP Paribas Financial Markets now owns 12,737 shares of the electronics maker's stock valued at $2,721,000 after buying an additional 473 shares during the period. Principal Securities Inc. purchased a new position in shares of Encore Wire during the fourth quarter valued at approximately $145,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Encore Wire by 3.7% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,516 shares of the electronics maker's stock valued at $324,000 after buying an additional 54 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Encore Wire during the fourth quarter valued at approximately $334,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Encore Wire by 14.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,249 shares of the electronics maker's stock worth $267,000 after purchasing an additional 158 shares during the period. 99.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WIRE shares. StockNews.com started coverage on shares of Encore Wire in a report on Sunday. They set a "hold" rating for the company. Sidoti reaffirmed a "neutral" rating and set a $290.00 price target on shares of Encore Wire in a report on Tuesday, April 16th. DA Davidson lowered shares of Encore Wire from a "buy" rating to a "neutral" rating and set a $295.00 price target for the company. in a report on Tuesday, April 16th. Finally, CJS Securities reaffirmed a "market perform" rating on shares of Encore Wire in a report on Friday, April 19th.

Encore Wire Stock Performance

Shares of WIRE stock traded down $2.17 during midday trading on Wednesday, reaching $277.14. 360,223 shares of the company were exchanged, compared to its average volume of 255,936. Encore Wire Co. has a 12 month low of $150.51 and a 12 month high of $295.90. The company has a market cap of $4.38 billion, a P/E ratio of 14.70 and a beta of 1.28. The company's 50 day moving average price is $268.26 and its two-hundred day moving average price is $232.09.

Encore Wire (NASDAQ:WIRE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.65 by $0.27. The company had revenue of $632.66 million for the quarter, compared to analysts' expectations of $579.64 million. Encore Wire had a net margin of 12.45% and a return on equity of 17.77%. The business's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.50 EPS. As a group, sell-side analysts predict that Encore Wire Co. will post 21.24 earnings per share for the current year.

Encore Wire Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Friday, July 5th. Encore Wire's dividend payout ratio (DPR) is currently 0.42%.

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.