Millington Financial Advisors LLC Sells 493 Shares of Encore Wire Co. (NASDAQ:WIRE)

Millington Financial Advisors LLC decreased its stake in Encore Wire Co. (NASDAQ:WIRE) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,307 shares of the electronics maker’s stock after selling 493 shares during the period. Encore Wire accounts for approximately 1.4% of Millington Financial Advisors LLC’s holdings, making the stock its 17th largest position. Millington Financial Advisors LLC owned approximately 0.05% of Encore Wire worth $1,774,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WIRE. Blue Trust Inc. grew its holdings in shares of Encore Wire by 69.2% in the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock valued at $43,000 after acquiring an additional 83 shares in the last quarter. Beaird Harris Wealth Management LLC acquired a new stake in Encore Wire during the third quarter worth approximately $91,000. GAMMA Investing LLC acquired a new stake in Encore Wire during the fourth quarter worth approximately $99,000. Strs Ohio lifted its position in Encore Wire by 40.0% during the fourth quarter. Strs Ohio now owns 700 shares of the electronics maker’s stock worth $149,000 after acquiring an additional 200 shares during the last quarter. Finally, Childress Capital Advisors LLC acquired a new stake in Encore Wire during the third quarter worth approximately $205,000. Institutional investors own 99.82% of the company’s stock.

Encore Wire Stock Up 0.2 %

Shares of NASDAQ WIRE traded up $0.51 during midday trading on Tuesday, reaching $283.60. 339,454 shares of the company were exchanged, compared to its average volume of 261,762. The stock’s 50-day moving average price is $245.50 and its 200-day moving average price is $217.02. The stock has a market cap of $4.48 billion, a P/E ratio of 13.21 and a beta of 1.31. Encore Wire Co. has a one year low of $138.20 and a one year high of $295.90.

Encore Wire (NASDAQ:WIRE) last posted its earnings results on Wednesday, February 14th. The electronics maker reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.05. Encore Wire had a net margin of 14.50% and a return on equity of 20.92%. The firm had revenue of $633.78 million for the quarter, compared to analysts’ expectations of $601.48 million. During the same quarter in the previous year, the firm posted $8.28 earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. On average, equities research analysts anticipate that Encore Wire Co. will post 21.23 EPS for the current year.

Encore Wire Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid a $0.02 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. Encore Wire’s dividend payout ratio is 0.37%.

Analyst Ratings Changes

Several brokerages have issued reports on WIRE. DA Davidson downgraded 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. CJS Securities restated a “market perform” rating on shares of Encore Wire in a research report on Friday. StockNews.com downgraded shares of Encore Wire from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. 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.