Raymond James Financial Services Advisors Inc. Acquires 967 Shares of Encore Wire Co. (NASDAQ:WIRE)

Raymond James Financial Services Advisors Inc. increased its holdings in shares of Encore Wire Co. (NASDAQ:WIREGet Rating) by 8.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,603 shares of the electronics maker’s stock after purchasing an additional 967 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Encore Wire were worth $1,456,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of WIRE. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Encore Wire during the second quarter worth $335,000. TD Asset Management Inc. boosted its stake in Encore Wire by 7.0% in the 2nd quarter. TD Asset Management Inc. now owns 53,300 shares of the electronics maker’s stock worth $5,539,000 after purchasing an additional 3,500 shares during the period. Exchange Traded Concepts LLC increased its holdings in Encore Wire by 1.7% during the 2nd quarter. Exchange Traded Concepts LLC now owns 6,805 shares of the electronics maker’s stock worth $707,000 after purchasing an additional 111 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Encore Wire in the 2nd quarter valued at about $1,143,000. Finally, ARGI Investment Services LLC lifted its holdings in shares of Encore Wire by 16.2% in the second quarter. ARGI Investment Services LLC now owns 22,822 shares of the electronics maker’s stock valued at $2,372,000 after purchasing an additional 3,178 shares in the last quarter. 99.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Encore Wire Stock Performance

Shares of NASDAQ WIRE opened at $144.39 on Friday. The stock has a 50 day moving average price of $143.09 and a 200 day moving average price of $131.31. The stock has a market capitalization of $2.65 billion, a PE ratio of 4.06 and a beta of 1.31. Encore Wire Co. has a 52 week low of $94.39 and a 52 week high of $155.35.

Encore Wire (NASDAQ:WIREGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The electronics maker reported $9.97 EPS for the quarter, beating the consensus estimate of $4.63 by $5.34. The company had revenue of $762.40 million during the quarter, compared to the consensus estimate of $693.13 million. Encore Wire had a return on equity of 46.63% and a net margin of 23.43%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.51 EPS. As a group, research analysts forecast that Encore Wire Co. will post 33.35 EPS for the current year.

Encore Wire Dividend Announcement

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 issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, January 5th. This represents a $0.08 annualized dividend and a yield of 0.06%. 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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