Linden Thomas Advisory Services LLC Buys Shares of 1,053 Encore Wire Co. (NASDAQ:WIRE)

Linden Thomas Advisory Services LLC purchased a new position in shares of Encore Wire Co. (NASDAQ:WIRE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,053 shares of the electronics maker’s stock, valued at approximately $225,000.

Several other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in Encore Wire by 260.9% during the 3rd quarter. SG Americas Securities LLC now owns 5,633 shares of the electronics maker’s stock worth $1,028,000 after buying an additional 4,072 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Encore Wire by 31.1% in the third quarter. Handelsbanken Fonder AB now owns 4,637 shares of the electronics maker’s stock valued at $846,000 after acquiring an additional 1,100 shares in the last quarter. Hunter Perkins Capital Management LLC raised its stake in shares of Encore Wire by 104.0% in the third quarter. Hunter Perkins Capital Management LLC now owns 19,719 shares of the electronics maker’s stock valued at $3,598,000 after acquiring an additional 10,055 shares in the last quarter. Security National Bank boosted its holdings in Encore Wire by 2.1% in the third quarter. Security National Bank now owns 14,377 shares of the electronics maker’s stock valued at $2,655,000 after purchasing an additional 289 shares during the period. Finally, Aquila Investment Management LLC grew its stake in Encore Wire by 50.0% during the 3rd quarter. Aquila Investment Management LLC now owns 9,000 shares of the electronics maker’s stock worth $1,642,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 99.82% of the company’s stock.

Wall Street Analyst Weigh In

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

Encore Wire Stock Up 0.3 %

Shares of WIRE opened at $284.89 on Friday. Encore Wire Co. has a 52-week low of $146.36 and a 52-week high of $295.90. The stock has a 50 day moving average price of $249.52 and a 200 day moving average price of $219.33. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 15.11 and a beta of 1.31.

Encore Wire (NASDAQ:WIRE) last issued its earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.65 by $0.27. Encore Wire had a net margin of 12.45% and a return on equity of 17.77%. The business had revenue of $632.66 million during the quarter, compared to analysts’ expectations of $579.64 million. During the same quarter in the prior year, the business posted $6.50 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts anticipate that Encore Wire Co. will post 21.23 EPS for the current fiscal year.

Encore Wire Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, April 4th. Encore Wire’s payout ratio is currently 0.42%.

Encore Wire Company Profile

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.