SG Americas Securities LLC raised its position in shares of Encore Wire Co. (NASDAQ:WIRE) by 143.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,139 shares of the electronics maker’s stock after purchasing an additional 27,188 shares during the period. SG Americas Securities LLC owned 0.22% of Encore Wire worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Encore Wire in the first quarter valued at $288,000. Geode Capital Management LLC raised its stake in Encore Wire by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 379,026 shares of the electronics maker’s stock valued at $15,914,000 after acquiring an additional 5,752 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Encore Wire by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,547 shares of the electronics maker’s stock valued at $443,000 after acquiring an additional 3,440 shares during the period. Wells Fargo & Company MN lifted its holdings in Encore Wire by 6.2% during the first quarter. Wells Fargo & Company MN now owns 185,684 shares of the electronics maker’s stock valued at $7,797,000 after purchasing an additional 10,840 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Encore Wire by 1,569.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,669 shares of the electronics maker’s stock worth $70,000 after purchasing an additional 1,569 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on WIRE shares. Zacks Investment Research downgraded shares of Encore Wire from a “buy” rating to a “hold” rating in a report on Monday, May 4th. DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and cut their price target for the stock from $60.00 to $56.00 in a report on Thursday, April 30th. ValuEngine lowered Encore Wire from a “hold” rating to a “sell” rating in a research note on Monday, May 18th. Finally, BidaskClub downgraded Encore Wire from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $61.00.
Shares of NASDAQ:WIRE opened at $49.94 on Friday. The firm has a fifty day moving average price of $48.31 and a two-hundred day moving average price of $48.68. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 16.54 and a beta of 1.21. Encore Wire Co. has a one year low of $38.01 and a one year high of $62.08.
Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.41. Encore Wire had a return on equity of 8.23% and a net margin of 5.01%. The company had revenue of $302.79 million for the quarter, compared to the consensus estimate of $297.48 million. During the same quarter last year, the business posted $0.64 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Encore Wire Co. will post 2.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Wednesday, July 1st. Encore Wire’s payout ratio is 2.89%.
Encore Wire Company Profile
Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Its products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2, metal-clad, and armored cables for use primarily as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; and other types of wire products.
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