Encore Wire Co. (NASDAQ:WIRE) Stock Holdings Increased by Jennison Associates LLC

Jennison Associates LLC boosted its position in Encore Wire Co. (NASDAQ:WIREFree Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,005 shares of the electronics maker’s stock after buying an additional 54 shares during the quarter. Jennison Associates LLC’s holdings in Encore Wire were worth $790,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management increased its holdings in Encore Wire by 42.0% in the first quarter. Spire Wealth Management now owns 142 shares of the electronics maker’s stock valued at $37,000 after buying an additional 42 shares during the last quarter. Blue Trust Inc. boosted its stake in Encore Wire by 69.2% in the fourth quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock valued at $43,000 after acquiring an additional 83 shares during the period. Quest Partners LLC acquired a new position in Encore Wire in the fourth quarter valued at approximately $80,000. GAMMA Investing LLC acquired a new position in Encore Wire in the fourth quarter valued at approximately $99,000. Finally, Banque Cantonale Vaudoise boosted its stake in Encore Wire by 10.7% in the first quarter. Banque Cantonale Vaudoise now owns 414 shares of the electronics maker’s stock valued at $109,000 after acquiring an additional 40 shares during the period. 99.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WIRE shares. Sidoti restated a “neutral” rating and issued a $290.00 target price on shares of Encore Wire in a research note on Tuesday, April 16th. DA Davidson downgraded Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective for the company. in a research report on Tuesday, April 16th. StockNews.com initiated coverage on Encore Wire in a research report on Saturday. They set a “hold” rating for the company. Finally, CJS Securities reiterated a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th.

View Our Latest Stock Report on Encore Wire

Encore Wire Price Performance

WIRE opened at $289.84 on Wednesday. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 15.38 and a beta of 1.19. Encore Wire Co. has a 1-year low of $150.51 and a 1-year high of $295.90. The business has a 50 day moving average price of $285.65 and a two-hundred day moving average price of $254.75.

Encore Wire (NASDAQ:WIREGet Free Report) last released its earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share for the quarter, topping analysts’ consensus estimates of $3.65 by $0.27. The firm had revenue of $632.66 million during the quarter, compared to the consensus estimate of $579.64 million. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.50 earnings per share. Equities analysts expect that Encore Wire Co. will post 21.24 EPS for the current fiscal 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 given a $0.02 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. Encore Wire’s dividend payout ratio (DPR) is 0.42%.

Encore Wire Profile

(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.

See Also

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

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