Wipfli Financial Advisors LLC Takes $78,000 Position in Encore Wire Co. (NASDAQ:WIRE)

Wipfli Financial Advisors LLC purchased a new stake in shares of Encore Wire Co. (NASDAQ:WIREGet Rating) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 673 shares of the electronics maker’s stock, valued at approximately $78,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ziegler Capital Management LLC purchased a new position in shares of Encore Wire during the third quarter valued at $766,000. Raymond James & Associates grew its holdings in shares of Encore Wire by 213.0% during the third quarter. Raymond James & Associates now owns 24,672 shares of the electronics maker’s stock valued at $2,851,000 after buying an additional 16,789 shares in the last quarter. AE Wealth Management LLC purchased a new position in shares of Encore Wire during the third quarter valued at $1,279,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Encore Wire by 8.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,603 shares of the electronics maker’s stock valued at $1,456,000 after buying an additional 967 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Encore Wire during the third quarter valued at $1,747,000. Hedge funds and other institutional investors own 99.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WIRE shares. StockNews.com started coverage on Encore Wire in a report on Wednesday, October 12th. They set a “buy” rating on the stock. DA Davidson lifted their price objective on Encore Wire to $200.00 in a research report on Thursday, October 27th.

Encore Wire Trading Up 3.5 %

WIRE opened at $148.71 on Friday. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 4.18 and a beta of 1.31. Encore Wire Co. has a 1 year low of $94.39 and a 1 year high of $155.35. The stock has a fifty day moving average price of $142.61 and a 200 day moving average price of $129.89.

Encore Wire (NASDAQ:WIREGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The electronics maker reported $9.97 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $5.34. Encore Wire had a return on equity of 46.63% and a net margin of 23.43%. The company had revenue of $762.40 million during the quarter, compared to analysts’ expectations of $693.13 million. During the same quarter in the previous year, the firm earned $8.51 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Encore Wire Co. will post 33.35 earnings per share for the current fiscal year.

Encore Wire Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Friday, January 6th will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.05%. Encore Wire’s dividend payout ratio is currently 0.23%.

Encore Wire Profile

(Get Rating)

Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. The company's products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2 cables and metal-clad and armored cables for use as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; USE-2 cables; and other types of wire products.

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Institutional Ownership by Quarter for Encore Wire (NASDAQ:WIRE)

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