Comerica Bank decreased its stake in Encore Wire Corporation (NASDAQ:WIRE) by 28.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,000 shares of the electronics maker’s stock after selling 29,762 shares during the period. Comerica Bank owned about 0.36% of Encore Wire Corporation worth $3,244,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State of Tennessee Treasury Department increased its stake in Encore Wire Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 19,540 shares of the electronics maker’s stock valued at $899,000 after buying an additional 2,949 shares in the last quarter. Swiss National Bank increased its stake in Encore Wire Corporation by 2.9% in the first quarter. Swiss National Bank now owns 32,433 shares of the electronics maker’s stock valued at $1,492,000 after buying an additional 900 shares in the last quarter. Teachers Advisors LLC increased its stake in Encore Wire Corporation by 5.3% in the first quarter. Teachers Advisors LLC now owns 271,498 shares of the electronics maker’s stock valued at $12,489,000 after buying an additional 13,669 shares in the last quarter. BlackRock Inc. increased its stake in Encore Wire Corporation by 52,370.3% in the first quarter. BlackRock Inc. now owns 2,531,167 shares of the electronics maker’s stock valued at $116,433,000 after buying an additional 2,526,343 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Encore Wire Corporation by 0.9% in the first quarter. Legal & General Group Plc now owns 34,420 shares of the electronics maker’s stock valued at $1,582,000 after buying an additional 307 shares in the last quarter. Institutional investors own 89.13% of the company’s stock.

Encore Wire Corporation (NASDAQ:WIRE) opened at 43.00 on Friday. Encore Wire Corporation has a 52 week low of $33.70 and a 52 week high of $49.75. The stock has a market capitalization of $892.55 million, a P/E ratio of 21.29 and a beta of 2.24. The stock has a 50 day moving average of $41.30 and a 200 day moving average of $43.35.

Encore Wire Corporation (NASDAQ:WIRE) last announced its quarterly earnings results on Tuesday, August 1st. The electronics maker reported $0.52 EPS for the quarter, missing the consensus estimate of $0.58 by $0.06. Encore Wire Corporation had a net margin of 4.01% and a return on equity of 7.42%. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $282.25 million. During the same quarter last year, the business earned $0.38 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts predict that Encore Wire Corporation will post $2.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.08 annualized dividend and a yield of 0.19%. Encore Wire Corporation’s dividend payout ratio (DPR) is presently 3.98%.

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Several equities research analysts have issued reports on WIRE shares. Zacks Investment Research upgraded shares of Encore Wire Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. BidaskClub downgraded shares of Encore Wire Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, TheStreet downgraded shares of Encore Wire Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 4th.

About Encore Wire Corporation

Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.

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

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