Encore Wire Co. (NASDAQ:WIRE) Shares Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC boosted its stake in Encore Wire Co. (NASDAQ:WIRE) by 1.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,850 shares of the electronics maker’s stock after purchasing an additional 96 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Encore Wire were worth $1,537,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of WIRE. Norges Bank purchased a new stake in shares of Encore Wire during the 4th quarter worth about $20,223,000. Pacer Advisors Inc. boosted its position in Encore Wire by 10.7% during the 4th quarter. Pacer Advisors Inc. now owns 472,555 shares of the electronics maker’s stock worth $100,938,000 after purchasing an additional 45,863 shares during the period. Ogborne Capital Management LLC acquired a new stake in Encore Wire in the 4th quarter valued at $8,278,000. American Century Companies Inc. raised its position in Encore Wire by 7.7% in the third quarter. American Century Companies Inc. now owns 310,950 shares of the electronics maker’s stock valued at $56,736,000 after purchasing an additional 22,235 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in shares of Encore Wire during the fourth quarter worth about $3,503,000. Institutional investors and hedge funds own 99.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WIRE. StockNews.com began coverage on Encore Wire in a research report on Friday. They set a “hold” rating on the stock. Sidoti reissued a “neutral” rating and issued a $290.00 price target on shares of Encore Wire in a report on Tuesday, April 16th. CJS Securities reiterated a “market perform” rating on shares of Encore Wire in a research note on Friday, April 19th. Finally, DA Davidson downgraded shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective on the stock. in a research note on Tuesday, April 16th.

Encore Wire Stock Performance

Shares of WIRE traded up $0.07 during mid-day trading on Monday, reaching $289.90. 329,120 shares of the company’s stock traded hands, compared to its average volume of 310,016. The business’s 50-day moving average price is $284.68 and its 200-day moving average price is $251.00. The stock has a market capitalization of $4.58 billion, a P/E ratio of 15.38 and a beta of 1.23. Encore Wire Co. has a 12 month low of $150.51 and a 12 month high of $295.90.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings data on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.65 by $0.27. The business had revenue of $632.66 million for 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 revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $6.50 earnings per share. Equities research analysts anticipate that Encore Wire Co. will post 21.24 EPS for the current year.

Encore Wire Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Friday, July 5th. Encore Wire’s payout ratio is 0.42%.

Encore Wire 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.