Thrivent Financial For Lutherans boosted its stake in shares of Encore Wire Co. (NASDAQ:WIRE) by 14.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 527,962 shares of the electronics maker’s stock after acquiring an additional 68,372 shares during the period. Thrivent Financial For Lutherans owned about 2.54% of Encore Wire worth $25,685,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of WIRE. Janus Henderson Group PLC raised its position in Encore Wire by 14.5% during the third quarter. Janus Henderson Group PLC now owns 1,080,586 shares of the electronics maker’s stock worth $48,383,000 after acquiring an additional 137,099 shares during the period. Dean Investment Associates LLC purchased a new stake in shares of Encore Wire during the third quarter worth $3,473,000. Lyon Street Capital LLC purchased a new stake in shares of Encore Wire during the third quarter worth $3,390,000. BlackRock Inc. grew its holdings in shares of Encore Wire by 2.1% during the fourth quarter. BlackRock Inc. now owns 2,604,296 shares of the electronics maker’s stock worth $126,700,000 after buying an additional 52,764 shares in the last quarter. Finally, James Investment Research Inc. purchased a new stake in shares of Encore Wire during the fourth quarter worth $2,052,000. Institutional investors own 88.91% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Encore Wire from a “hold” rating to a “buy” rating in a report on Thursday. DA Davidson upped their target price on shares of Encore Wire to $54.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Sidoti raised shares of Encore Wire from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a report on Wednesday, December 6th. ValuEngine raised shares of Encore Wire from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Finally, Zacks Investment Research raised shares of Encore Wire from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $58.00.
In other Encore Wire news, insider Matthew D. Ford sold 2,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $52.45, for a total value of $131,125.00. Following the transaction, the insider now owns 4,000 shares of the company’s stock, valued at $209,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Frank J. Bilban sold 8,924 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $51.52, for a total transaction of $459,764.48. Following the completion of the transaction, the chief financial officer now directly owns 19,900 shares in the company, valued at approximately $1,025,248. The disclosure for this sale can be found here. Insiders sold 36,524 shares of company stock worth $1,848,839 in the last ninety days. 3.79% of the stock is currently owned by corporate insiders.
Shares of Encore Wire Co. (NASDAQ WIRE) traded up $1.65 on Friday, hitting $57.80. 289,548 shares of the company were exchanged, compared to its average volume of 71,899. Encore Wire Co. has a 12-month low of $37.30 and a 12-month high of $58.00. The stock has a market capitalization of $1,169.93, a price-to-earnings ratio of 18.06, a P/E/G ratio of 1.89 and a beta of 2.12.
Encore Wire (NASDAQ:WIRE) last posted its earnings results on Tuesday, February 20th. The electronics maker reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.28. Encore Wire had a net margin of 5.76% and a return on equity of 8.94%. The company had revenue of $301.29 million for the quarter, compared to analysts’ expectations of $279.70 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. Encore Wire’s revenue for the quarter was up 25.9% compared to the same quarter last year. sell-side analysts expect that Encore Wire Co. will post 2.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Friday, April 6th will be given a $0.02 dividend. The ex-dividend date is Thursday, April 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. Encore Wire’s payout ratio is currently 2.50%.
Encore Wire 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 manufactures 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.
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