Encore Wire (NASDAQ:WIRE) Hits New 52-Week High at $266.34

Encore Wire Co. (NASDAQ:WIREGet Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $266.34 and last traded at $266.34, with a volume of 38593 shares trading hands. The stock had previously closed at $262.78.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Encore Wire from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd.

Read Our Latest Report on WIRE

Encore Wire Price Performance

The stock’s 50 day moving average price is $232.90 and its two-hundred day moving average price is $207.57. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 12.25 and a beta of 1.31.

Encore Wire (NASDAQ:WIREGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The electronics maker reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.05. Encore Wire had a net margin of 14.50% and a return on equity of 20.92%. The business had revenue of $633.78 million during the quarter, compared to analysts’ expectations of $601.48 million. During the same period in the previous year, the company earned $8.28 earnings per share. Encore Wire’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities research analysts anticipate that Encore Wire Co. will post 16.52 EPS for the current fiscal year.

Encore Wire Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, April 4th. Encore Wire’s dividend payout ratio (DPR) is currently 0.37%.

Hedge Funds Weigh In On Encore Wire

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nations Financial Group Inc. IA ADV increased its position in Encore Wire by 0.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 5,330 shares of the electronics maker’s stock worth $1,138,000 after acquiring an additional 41 shares during the period. SummerHaven Investment Management LLC increased its position in 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 acquiring an additional 51 shares during the period. Natixis Advisors L.P. increased its position in Encore Wire by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 10,213 shares of the electronics maker’s stock worth $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% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,516 shares of the electronics maker’s stock worth $324,000 after acquiring an additional 54 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its position in Encore Wire by 4.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,465 shares of the electronics maker’s stock worth $313,000 after acquiring an additional 58 shares during the period. Institutional investors own 99.82% of the company’s stock.

About Encore Wire

(Get Free Report)

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.

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