BI Asset Management Fondsmaeglerselskab A S Decreases Holdings in Encore Wire Co. (NASDAQ:WIRE)

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of Encore Wire Co. (NASDAQ:WIRE) by 45.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,100 shares of the electronics maker’s stock after selling 1,758 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Encore Wire were worth $449,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC increased its position in shares of Encore Wire by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 4,104 shares of the electronics maker’s stock worth $877,000 after purchasing an additional 51 shares in the last quarter. Natixis Advisors L.P. increased its position in Encore Wire by 0.5% in the 4th quarter. Natixis Advisors L.P. now owns 10,213 shares of the electronics maker’s stock valued at $2,181,000 after acquiring an additional 53 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Encore Wire by 3.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,516 shares of the electronics maker’s stock valued at $324,000 after acquiring an additional 54 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Encore Wire by 4.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,465 shares of the electronics maker’s stock valued at $313,000 after acquiring an additional 58 shares during the period. Finally, Stratos Wealth Advisors LLC increased its position in Encore Wire by 0.9% in the 4th quarter. Stratos Wealth Advisors LLC now owns 6,691 shares of the electronics maker’s stock valued at $1,429,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 99.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WIRE. CJS Securities restated a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. Sidoti restated a “neutral” rating and issued a $290.00 price target on shares of Encore Wire in a research report on Tuesday, April 16th. DA Davidson cut Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target on the stock. in a research report on Tuesday, April 16th. Finally, StockNews.com began coverage on Encore Wire in a research report on Sunday, May 19th. They issued a “hold” rating on the stock.

Encore Wire Trading Down 0.1 %

NASDAQ WIRE opened at $276.94 on Friday. The business’s 50 day moving average is $269.29 and its two-hundred day moving average is $232.41. Encore Wire Co. has a 12-month low of $150.51 and a 12-month high of $295.90. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 14.69 and a beta of 1.28.

Encore Wire (NASDAQ:WIRE) last announced its quarterly earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 EPS for the quarter, topping the consensus estimate of $3.65 by $0.27. The business had revenue of $632.66 million for the quarter, compared to analyst estimates of $579.64 million. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.50 EPS. Equities analysts forecast that Encore Wire Co. will post 21.24 earnings per share for the current fiscal year.

Encore Wire Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Friday, July 5th. Encore Wire’s dividend payout ratio (DPR) is 0.42%.

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.