Swiss National Bank increased its position in Encore Wire Corp. (NASDAQ:WIRE) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 32,733 shares of the company’s stock after buying an additional 600 shares during the period. Swiss National Bank owned 0.16% of Encore Wire Corp. worth $1,220,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Aperio Group LLC bought a new position in shares of Encore Wire Corp. during the first quarter worth about $278,000. Teachers Advisors Inc. boosted its position in shares of Encore Wire Corp. by 3.5% in the first quarter. Teachers Advisors Inc. now owns 243,961 shares of the company’s stock worth $9,497,000 after buying an additional 8,200 shares during the period. Prudential Financial Inc. boosted its position in shares of Encore Wire Corp. by 22.1% in the first quarter. Prudential Financial Inc. now owns 62,482 shares of the company’s stock worth $2,432,000 after buying an additional 11,300 shares during the period. Franklin Resources Inc. boosted its position in shares of Encore Wire Corp. by 1.9% in the first quarter. Franklin Resources Inc. now owns 547,400 shares of the company’s stock worth $21,310,000 after buying an additional 10,000 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of Encore Wire Corp. by 7.1% in the first quarter. BlackRock Group LTD now owns 27,154 shares of the company’s stock worth $1,057,000 after buying an additional 1,795 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.
Encore Wire Corp. (NASDAQ:WIRE) traded up 2.00% during midday trading on Friday, hitting $36.77. The stock had a trading volume of 83,863 shares. The company’s 50 day moving average price is $37.36 and its 200-day moving average price is $38.33. The stock has a market capitalization of $760.99 million, a price-to-earnings ratio of 18.20 and a beta of 1.98. Encore Wire Corp. has a 52 week low of $32.96 and a 52 week high of $44.95.
Encore Wire Corp. (NASDAQ:WIRE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by $0.19. Encore Wire Corp. had a return on equity of 7.73% and a net margin of 4.28%. The business had revenue of $238.80 million for the quarter, compared to analyst estimates of $241.88 million. During the same period last year, the firm posted $0.54 EPS. Encore Wire Corp.’s quarterly revenue was down 5.9% on a year-over-year basis. Equities analysts anticipate that Encore Wire Corp. will post $2.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.22%. Encore Wire Corp.’s dividend payout ratio (DPR) is currently 3.96%.
WIRE has been the topic of a number of recent analyst reports. Sidoti cut Encore Wire Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $46.00 to $44.00 in a report on Thursday, July 28th. Zacks Investment Research cut Encore Wire Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 3rd. Finally, DA Davidson restated a “hold” rating on shares of Encore Wire Corp. in a report on Monday, September 19th.
Encore Wire Corp. Company Profile
Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments and manufactured housing. The Company operates in the manufacture of electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments, and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings segment.
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