WealthTrust Axiom LLC Grows Stock Holdings in Encore Wire Co. (NASDAQ:WIRE)

WealthTrust Axiom LLC grew its holdings in Encore Wire Co. (NASDAQ:WIRE) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,540 shares of the electronics maker’s stock after acquiring an additional 209 shares during the period. WealthTrust Axiom LLC’s holdings in Encore Wire were worth $756,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its stake in shares of Encore Wire by 26.6% in 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 acquired a new position in shares of Encore Wire in the 3rd quarter valued at $1,840,000. Stifel Financial Corp lifted its stake in shares of Encore Wire by 501.7% in the 3rd quarter. Stifel Financial Corp now owns 74,015 shares of the electronics maker’s stock valued at $13,505,000 after purchasing an additional 61,714 shares during the period. Federated Hermes Inc. lifted its stake in shares of 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 purchasing an additional 5,798 shares during the period. Finally, Quantedge Capital Pte Ltd raised its position in Encore Wire by 19.2% during the third quarter. Quantedge Capital Pte Ltd now owns 27,272 shares of the electronics maker’s stock worth $4,976,000 after acquiring an additional 4,400 shares during the period. 99.82% of the stock is owned by hedge funds and other institutional investors.

Encore Wire Stock Performance

Shares of NASDAQ WIRE traded down $1.32 during mid-day trading on Tuesday, reaching $281.71. The company’s stock had a trading volume of 217,743 shares, compared to its average volume of 263,349. The stock has a 50-day moving average of $250.63 and a two-hundred day moving average of $220.41. The stock has a market capitalization of $4.45 billion, a P/E ratio of 15.01 and a beta of 1.31. Encore Wire Co. has a 1-year low of $150.51 and a 1-year high of $295.90.

Encore Wire (NASDAQ:WIRE) last issued its earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.65 by $0.27. The business had revenue of $632.66 million during 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 company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $6.50 earnings per share. Analysts predict that Encore Wire Co. will post 21.23 EPS for the current fiscal year.

Encore Wire Announces Dividend

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

Wall Street Analyst Weigh In

WIRE has been the subject of a number of research analyst reports. DA Davidson cut shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective for the company. in a research report on Tuesday, April 16th. StockNews.com initiated coverage on shares of Encore Wire in a research report on Thursday, April 25th. They set a “hold” rating for the company. CJS Securities restated a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. Finally, Sidoti restated a “neutral” rating and set a $290.00 price objective on shares of Encore Wire in a research 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.