Sterling Capital Management LLC decreased its position in Encore Wire Co. (NASDAQ:WIRE) by 28.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,908 shares of the electronics maker’s stock after selling 7,172 shares during the quarter. Sterling Capital Management LLC owned 0.09% of Encore Wire worth $802,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Suntrust Banks Inc. raised its holdings in Encore Wire by 1.6% in the second quarter. Suntrust Banks Inc. now owns 6,781 shares of the electronics maker’s stock valued at $289,000 after acquiring an additional 104 shares in the last quarter. Texas Permanent School Fund raised its holdings in Encore Wire by 0.9% in the second quarter. Texas Permanent School Fund now owns 15,149 shares of the electronics maker’s stock valued at $647,000 after acquiring an additional 136 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Encore Wire by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 9,974 shares of the electronics maker’s stock valued at $426,000 after acquiring an additional 154 shares in the last quarter. Rhumbline Advisers raised its holdings in Encore Wire by 0.8% in the second quarter. Rhumbline Advisers now owns 47,630 shares of the electronics maker’s stock valued at $2,034,000 after acquiring an additional 381 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in Encore Wire by 8.4% in the second quarter. Voya Investment Management LLC now owns 10,848 shares of the electronics maker’s stock valued at $463,000 after acquiring an additional 841 shares in the last quarter. 88.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Encore Wire Co. (WIRE) opened at $47.75 on Thursday. Encore Wire Co. has a 1-year low of $37.30 and a 1-year high of $49.75. The firm has a market cap of $1,009.54, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 2.09 and a beta of 2.31.

Encore Wire (NASDAQ:WIRE) last released its quarterly earnings data on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. Encore Wire had a net margin of 4.53% and a return on equity of 8.42%. The company had revenue of $292.00 million for the quarter, compared to analysts’ expectations of $279.60 million. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. research analysts anticipate that Encore Wire Co. will post 2.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, January 5th will be issued 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 yield of 0.17%. Encore Wire’s payout ratio is currently 3.35%.

In other Encore Wire news, VP Frank J. Bilban sold 9,814 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $48.30, for a total transaction of $474,016.20. Following the sale, the vice president now owns 56,934 shares of the company’s stock, valued at $2,749,912.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Frank J. Bilban sold 4,136 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $47.50, for a total transaction of $196,460.00. Following the sale, the vice president now directly owns 61,150 shares in the company, valued at approximately $2,904,625. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,507 shares of company stock worth $790,449. 3.79% of the stock is owned by corporate insiders.

WIRE has been the topic of several analyst reports. Zacks Investment Research cut shares of Encore Wire from a “hold” rating to a “strong sell” rating in a report on Thursday, November 2nd. Sidoti started coverage on shares of Encore Wire in a report on Thursday, October 19th. They set a “neutral” rating on the stock. Finally, TheStreet raised shares of Encore Wire from a “c+” rating to a “b” rating in a report on Monday, October 23rd.

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

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