Encore Wire Co. (NASDAQ:WIRE) Shares Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. boosted its position in shares of Encore Wire Co. (NASDAQ:WIRE) by 43.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,600 shares of the electronics maker’s stock after buying an additional 7,200 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.15% of Encore Wire worth $6,202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of Encore Wire by 10.7% in the fourth quarter. Pacer Advisors Inc. now owns 472,555 shares of the electronics maker’s stock valued at $100,938,000 after purchasing an additional 45,863 shares during the period. American Century Companies Inc. grew its position in shares of Encore Wire by 7.7% in the third quarter. American Century Companies Inc. now owns 310,950 shares of the electronics maker’s stock valued at $56,736,000 after purchasing an additional 22,235 shares during the period. First Trust Advisors LP grew its position in shares of Encore Wire by 9.3% in the fourth quarter. First Trust Advisors LP now owns 133,841 shares of the electronics maker’s stock valued at $28,588,000 after purchasing an additional 11,405 shares during the period. First Dallas Securities Inc. boosted its position in Encore Wire by 226.5% during the third quarter. First Dallas Securities Inc. now owns 97,505 shares of the electronics maker’s stock worth $17,791,000 after acquiring an additional 67,640 shares during the last quarter. Finally, Norges Bank acquired a new position in Encore Wire during the fourth quarter worth about $20,223,000. Institutional investors and hedge funds own 99.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Encore Wire in a research report on Thursday, June 20th. They set a “hold” rating on the stock. 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 set a $290.00 price target on shares of Encore Wire in a research report on Tuesday, April 16th. Finally, DA Davidson lowered shares of 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.

Encore Wire Trading Up 0.0 %

WIRE stock traded up $0.13 during trading on Thursday, reaching $289.75. 516,620 shares of the stock were exchanged, compared to its average volume of 302,403. The business has a 50 day moving average price of $284.57 and a 200-day moving average price of $249.63. Encore Wire Co. has a 1 year low of $150.51 and a 1 year high of $295.90. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 15.37 and a beta of 1.23.

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

Encore Wire Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be paid 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 Friday, July 5th. Encore Wire’s dividend payout ratio (DPR) is presently 0.42%.

Encore Wire Company 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.