Encore Wire Co. (NASDAQ:WIRE) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in shares of Encore Wire Co. (NASDAQ:WIRE) by 8.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 137,773 shares of the electronics maker’s stock after selling 12,487 shares during the period. Mutual of America Capital Management LLC’s holdings in Encore Wire were worth $13,065,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Encore Wire by 1.9% during the second quarter. Vanguard Group Inc. now owns 2,116,098 shares of the electronics maker’s stock worth $160,380,000 after buying an additional 38,881 shares in the last quarter. State Street Corp boosted its stake in Encore Wire by 4.2% in the second quarter. State Street Corp now owns 696,331 shares of the electronics maker’s stock valued at $52,775,000 after acquiring an additional 27,792 shares during the period. FMR LLC boosted its position in shares of Encore Wire by 446.5% during the second quarter. FMR LLC now owns 560,210 shares of the electronics maker’s stock worth $42,458,000 after buying an additional 457,700 shares during the period. Geode Capital Management LLC boosted its position in shares of Encore Wire by 2.4% during the second quarter. Geode Capital Management LLC now owns 432,710 shares of the electronics maker’s stock worth $32,795,000 after buying an additional 10,062 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Encore Wire by 1.1% during the second quarter. Northern Trust Corp now owns 418,002 shares of the electronics maker’s stock worth $31,680,000 after buying an additional 4,520 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

NASDAQ WIRE opened at $128.69 on Friday. The stock has a market capitalization of $2.61 billion, a P/E ratio of 6.28 and a beta of 1.13. Encore Wire Co. has a 1 year low of $56.27 and a 1 year high of $151.64. The business’s fifty day moving average is $138.24 and its two-hundred day moving average is $107.48.

Encore Wire (NASDAQ:WIRE) last posted its quarterly earnings results on Tuesday, October 26th. The electronics maker reported $8.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $5.59. The company had revenue of $716.32 million for the quarter, compared to analysts’ expectations of $587.34 million. Encore Wire had a return on equity of 42.52% and a net margin of 18.55%. The firm’s revenue was up 110.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. On average, sell-side analysts predict that Encore Wire Co. will post 21.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 21st. Shareholders of record on Friday, January 7th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, January 6th. This represents a $0.08 annualized dividend and a dividend yield of 0.06%. Encore Wire’s dividend payout ratio is currently 0.39%.

Several equities analysts have recently issued reports on WIRE shares. DA Davidson boosted their price objective on Encore Wire from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Zacks Investment Research downgraded Encore Wire from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 29th.

Encore Wire Company Profile

Encore Wire Corp. engages in manufacturing copper electrical building wire and cable. The firm is a significant supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments and manufactured housing. It offers an electric building wire product line that consists primarily of NM-B cable, UF-B cable, THHN/THWN-2 and other types of wire products, including Metal Clad, Armored Cable, Photovoltaic Cable and Bare Copper.

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

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