California State Teachers Retirement System Sells 3,863 Shares of Encore Wire Corporation (WIRE)
California State Teachers Retirement System reduced its stake in Encore Wire Corporation (NASDAQ:WIRE) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,938 shares of the electronics maker’s stock after selling 3,863 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Encore Wire Corporation worth $1,535,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Encore Wire Corporation by 52,370.3% in the 1st quarter. BlackRock Inc. now owns 2,531,167 shares of the electronics maker’s stock worth $116,433,000 after buying an additional 2,526,343 shares in the last quarter. Vanguard Group Inc. increased its stake in Encore Wire Corporation by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,833,564 shares of the electronics maker’s stock worth $78,294,000 after buying an additional 50,586 shares in the last quarter. Hodges Capital Management Inc. increased its stake in Encore Wire Corporation by 4.7% in the 2nd quarter. Hodges Capital Management Inc. now owns 1,056,084 shares of the electronics maker’s stock worth $45,095,000 after buying an additional 47,438 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Encore Wire Corporation in the 2nd quarter worth $40,287,000. Finally, Royce & Associates LP increased its stake in Encore Wire Corporation by 1.9% in the 2nd quarter. Royce & Associates LP now owns 701,370 shares of the electronics maker’s stock worth $29,948,000 after buying an additional 13,191 shares in the last quarter. 86.93% of the stock is currently owned by institutional investors.
Shares of Encore Wire Corporation (WIRE) opened at $44.30 on Monday. Encore Wire Corporation has a 12 month low of $37.30 and a 12 month high of $49.75. The stock has a market capitalization of $922.12, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.91 and a beta of 2.32.
Encore Wire Corporation (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.12. The business had revenue of $292.00 million during the quarter, compared to analyst estimates of $279.60 million. Encore Wire Corporation had a return on equity of 8.42% and a net margin of 4.53%. Encore Wire Corporation’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 EPS. analysts expect that Encore Wire Corporation will post 2.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.18%. Encore Wire Corporation’s payout ratio is 3.35%.
In other news, VP Frank J. Bilban sold 4,136 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $47.50, for a total transaction of $196,460.00. Following the completion of the transaction, the vice president now owns 61,150 shares in the company, valued at $2,904,625. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.79% of the company’s stock.
A number of equities research analysts have issued reports on WIRE shares. Zacks Investment Research upgraded Encore Wire Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. Sidoti started coverage on Encore Wire Corporation in a research note on Thursday, October 19th. They issued a “neutral” rating for the company. TheStreet lowered Encore Wire Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 4th. Finally, BidaskClub lowered Encore Wire Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th.
Encore Wire Corporation Company Profile
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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