Encore Wire Co. (NASDAQ:WIRE) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its position in Encore Wire Co. (NASDAQ:WIRE – Get Rating) by 10.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 13,891 shares of the electronics maker’s stock after acquiring an additional 1,288 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Encore Wire were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Encore Wire by 8.7% during the 1st quarter. JPMorgan Chase & Co. now owns 118,038 shares of the electronics maker’s stock worth $13,463,000 after acquiring an additional 9,457 shares during the period. Raymond James & Associates grew its position in Encore Wire by 132.2% in the 1st quarter. Raymond James & Associates now owns 19,387 shares of the electronics maker’s stock valued at $2,211,000 after buying an additional 11,038 shares during the last quarter. Bank of New York Mellon Corp raised its position in Encore Wire by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 247,999 shares of the electronics maker’s stock worth $28,290,000 after buying an additional 4,835 shares during the last quarter. Citigroup Inc. lifted its stake in shares of Encore Wire by 6.3% in the 1st quarter. Citigroup Inc. now owns 18,996 shares of the electronics maker’s stock worth $2,167,000 after acquiring an additional 1,123 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Encore Wire by 24.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,327 shares of the electronics maker’s stock valued at $608,000 after acquiring an additional 1,059 shares in the last quarter. Hedge funds and other institutional investors own 99.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WIRE. StockNews.com started coverage on shares of Encore Wire in a report on Thursday, May 18th. They set a “buy” rating for the company. DA Davidson raised their price target on Encore Wire from $200.00 to $250.00 in a report on Thursday, February 16th.

Encore Wire Stock Up 1.1 %

NASDAQ:WIRE opened at $161.82 on Thursday. Encore Wire Co. has a fifty-two week low of $94.39 and a fifty-two week high of $206.74. The firm’s fifty day simple moving average is $167.63 and its 200-day simple moving average is $161.13. The stock has a market cap of $2.84 billion, a PE ratio of 4.56 and a beta of 1.32.

Encore Wire (NASDAQ:WIRE – Get Rating) last issued its earnings results on Tuesday, April 25th. The electronics maker reported $6.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.44 by $1.06. The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $684.01 million. Encore Wire had a net margin of 22.87% and a return on equity of 39.17%. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company posted $7.96 earnings per share. Equities analysts anticipate that Encore Wire Co. will post 22.84 earnings per share for the current year.

Encore Wire Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, July 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.05%. Encore Wire’s payout ratio is 0.23%.

Encore Wire Company Profile

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Encore Wire Corp. engages in manufacturing copper electrical building wire and cable. It supplies building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments and manufactured housing. The company was founded by Vincent A. Rego in 1989 and is headquartered in McKinney, TX.