Encore Wire (NASDAQ:WIRE) Sees Unusually-High Trading Volume

Shares of Encore Wire Co. (NASDAQ:WIRE) saw an uptick in trading volume on Friday . 118,828 shares changed hands during mid-day trading, a decline of 60% from the previous session’s volume of 300,329 shares.The stock last traded at $289.89 and had previously closed at $289.75.

Analyst Ratings Changes

A number of research firms have commented on WIRE. CJS Securities reiterated 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 target price on shares of Encore Wire in a research report on Tuesday, April 16th. StockNews.com started coverage on Encore Wire in a research report on Friday. They set a “hold” rating on the stock. Finally, DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 target price on the stock. in a research report on Tuesday, April 16th.

Encore Wire Stock Up 0.0 %

The company has a market capitalization of $4.58 billion, a PE ratio of 15.38 and a beta of 1.23. The stock has a 50-day moving average of $284.68 and a 200 day moving average of $250.66.

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

Encore Wire Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given 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 is Friday, July 5th. Encore Wire’s dividend payout ratio is presently 0.42%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. grew its position in Encore Wire by 10.7% during the fourth quarter. Pacer Advisors Inc. now owns 472,555 shares of the electronics maker’s stock valued at $100,938,000 after acquiring an additional 45,863 shares during the last quarter. American Century Companies Inc. grew its position in Encore Wire by 7.7% during the third quarter. American Century Companies Inc. now owns 310,950 shares of the electronics maker’s stock valued at $56,736,000 after acquiring an additional 22,235 shares during the last quarter. First Trust Advisors LP grew its position in Encore Wire by 9.3% during the fourth quarter. First Trust Advisors LP now owns 133,841 shares of the electronics maker’s stock valued at $28,588,000 after acquiring an additional 11,405 shares during the last quarter. Boston Partners bought a new position in Encore Wire during the first quarter valued at approximately $31,764,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Encore Wire during the first quarter valued at approximately $24,993,000. 99.82% of the stock is currently owned by institutional investors.

About Encore Wire

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.