Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Encore Wire Co. (NASDAQ:WIRE)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Encore Wire Co. (NASDAQ:WIRE) by 10.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,125 shares of the electronics maker’s stock after purchasing an additional 283 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Encore Wire were worth $668,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WIRE. LSV Asset Management increased its stake in Encore Wire by 21.6% in the 3rd quarter. LSV Asset Management now owns 574,828 shares of the electronics maker’s stock worth $104,883,000 after acquiring an additional 102,062 shares during the last quarter. Pacer Advisors Inc. increased its stake in Encore Wire by 10.7% in the 4th quarter. Pacer Advisors Inc. now owns 472,555 shares of the electronics maker’s stock worth $100,938,000 after acquiring an additional 45,863 shares during the last quarter. American Century Companies Inc. increased its stake in Encore Wire by 7.7% in the 3rd quarter. American Century Companies Inc. now owns 310,950 shares of the electronics maker’s stock worth $56,736,000 after acquiring an additional 22,235 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Encore Wire by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 219,336 shares of the electronics maker’s stock worth $40,020,000 after acquiring an additional 3,197 shares during the last quarter. Finally, Seizert Capital Partners LLC bought a new position in Encore Wire in the 3rd quarter worth about $24,143,000. Hedge funds and other institutional investors own 99.82% of the company’s stock.

Encore Wire Trading Down 1.3 %

Shares of Encore Wire stock opened at $279.36 on Wednesday. The business’s 50-day moving average price is $251.84 and its 200-day moving average price is $221.12. Encore Wire Co. has a 12 month low of $150.51 and a 12 month high of $295.90. The firm has a market capitalization of $4.41 billion, a PE ratio of 14.82 and a beta of 1.31.

Encore Wire (NASDAQ:WIRE) last posted its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.65 by $0.27. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The business had revenue of $632.66 million for the quarter, compared to analyst estimates of $579.64 million. During the same period last year, the company earned $6.50 EPS. Encore Wire’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, analysts predict that Encore Wire Co. will post 21.23 earnings per share for the current fiscal year.

Encore Wire Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.08 annualized dividend and a yield of 0.03%. Encore Wire’s payout ratio is 0.42%.

Analysts Set New Price Targets

WIRE has been the topic of a number of research analyst reports. CJS Securities restated a “market perform” rating on shares of Encore Wire in a research note on Friday, April 19th. DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective on the stock. in a research report on Tuesday, April 16th. StockNews.com began coverage on Encore Wire in a research report on Thursday, April 25th. They set a “hold” rating on the stock. Finally, Sidoti reiterated a “neutral” rating and set a $290.00 price objective on shares of Encore Wire in a research report on Tuesday, April 16th.

About Encore Wire

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.