Hussman Strategic Advisors Inc. Sells 1,000 Shares of Encore Wire Co. (NASDAQ:WIRE)

Hussman Strategic Advisors Inc. cut its stake in Encore Wire Co. (NASDAQ:WIRE) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,400 shares of the electronics maker’s stock after selling 1,000 shares during the period. Hussman Strategic Advisors Inc. owned about 0.05% of Encore Wire worth $1,794,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Stratos Wealth Advisors LLC grew its holdings in Encore Wire by 0.9% during the 4th quarter. Stratos Wealth Advisors LLC now owns 6,691 shares of the electronics maker’s stock worth $1,429,000 after acquiring an additional 62 shares in the last quarter. Lido Advisors LLC grew its holdings in Encore Wire by 3.9% during the 3rd quarter. Lido Advisors LLC now owns 1,850 shares of the electronics maker’s stock worth $338,000 after acquiring an additional 70 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Encore Wire by 1.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 4,572 shares of the electronics maker’s stock worth $977,000 after acquiring an additional 75 shares in the last quarter. Blue Trust Inc. grew its holdings in Encore Wire by 69.2% during the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 83 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Encore Wire by 1.4% during the 1st quarter. Bank of Montreal Can now owns 6,158 shares of the electronics maker’s stock worth $755,000 after acquiring an additional 83 shares in the last quarter. 99.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WIRE shares. StockNews.com cut shares of Encore Wire from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. DA Davidson cut shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target on the stock. in a report on Tuesday, April 16th. Sidoti restated a “neutral” rating and issued a $290.00 price target on shares of Encore Wire in a report on Tuesday, April 16th. Finally, CJS Securities restated a “market perform” rating on shares of Encore Wire in a report on Friday.

Encore Wire Stock Performance

NASDAQ:WIRE opened at $284.40 on Monday. Encore Wire Co. has a fifty-two week low of $138.20 and a fifty-two week high of $295.90. The stock has a market capitalization of $4.49 billion, a P/E ratio of 13.27 and a beta of 1.31. The company’s 50-day simple moving average is $244.75 and its 200-day simple moving average is $216.27.

Encore Wire (NASDAQ:WIRE) last announced its quarterly earnings data on Wednesday, February 14th. The electronics maker reported $4.10 EPS for the quarter, beating the consensus estimate of $4.05 by $0.05. The firm had revenue of $633.78 million during the quarter, compared to analyst estimates of $601.48 million. Encore Wire had a net margin of 14.50% and a return on equity of 20.92%. Encore Wire’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the firm posted $8.28 EPS. On average, research analysts forecast that Encore Wire Co. will post 21.23 EPS for the current year.

Encore Wire Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, April 4th. Encore Wire’s payout ratio is currently 0.37%.

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.