J.P. Morgan Private Wealth Advisors LLC Buys 102 Shares of Encore Wire Co. (NASDAQ:WIRE)

J.P. Morgan Private Wealth Advisors LLC grew its stake in Encore Wire Co. (NASDAQ:WIREFree Report) by 0.3% during the third quarter, HoldingsChannel reports. The firm owned 35,139 shares of the electronics maker’s stock after buying an additional 102 shares during the quarter. J.P. Morgan Private Wealth Advisors LLC’s holdings in Encore Wire were worth $6,411,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Dark Forest Capital Management LP bought a new position in Encore Wire during the 1st quarter worth approximately $66,000. IFP Advisors Inc increased its stake in shares of Encore Wire by 231.5% in the 2nd quarter. IFP Advisors Inc now owns 358 shares of the electronics maker’s stock valued at $67,000 after acquiring an additional 250 shares in the last quarter. Delos Wealth Advisors LLC bought a new stake in shares of Encore Wire in the 2nd quarter valued at $105,000. Fortis Capital Advisors LLC bought a new stake in shares of Encore Wire in the 4th quarter valued at $121,000. Finally, Lazard Asset Management LLC increased its stake in shares of Encore Wire by 15.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,029 shares of the electronics maker’s stock valued at $141,000 after acquiring an additional 135 shares in the last quarter. 99.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Encore Wire from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. CJS Securities assumed coverage on shares of Encore Wire in a research note on Wednesday, October 11th. They issued an “outperform” rating and a $235.00 price objective for the company.

Check Out Our Latest Stock Analysis on Encore Wire

Encore Wire Price Performance

WIRE opened at $223.40 on Wednesday. The firm’s fifty day moving average price is $211.19 and its two-hundred day moving average price is $187.95. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 8.72 and a beta of 1.31. Encore Wire Co. has a 1 year low of $138.20 and a 1 year high of $234.29.

Encore Wire Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, January 5th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend was Thursday, January 4th. Encore Wire’s dividend payout ratio is currently 0.31%.

Encore Wire Profile

(Free Report)

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. The company 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.

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

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