38,753 Shares in Encore Wire Co. (NASDAQ:WIRE) Purchased by Ogborne Capital Management LLC

Ogborne Capital Management LLC acquired a new position in shares of Encore Wire Co. (NASDAQ:WIRE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,753 shares of the electronics maker’s stock, valued at approximately $8,278,000. Encore Wire accounts for 2.5% of Ogborne Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Ogborne Capital Management LLC owned 0.25% of Encore Wire at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nations Financial Group Inc. IA ADV lifted its position in Encore Wire by 0.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 5,330 shares of the electronics maker’s stock worth $1,138,000 after purchasing an additional 41 shares during the period. SummerHaven Investment Management LLC lifted its position in Encore Wire by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 4,104 shares of the electronics maker’s stock worth $877,000 after purchasing an additional 51 shares during the period. Natixis Advisors L.P. lifted its position in Encore Wire by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 10,213 shares of the electronics maker’s stock worth $2,181,000 after purchasing an additional 53 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Encore Wire by 3.7% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,516 shares of the electronics maker’s stock worth $324,000 after purchasing an additional 54 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Encore Wire by 4.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,465 shares of the electronics maker’s stock worth $313,000 after purchasing an additional 58 shares during the period. Institutional investors own 99.82% of the company’s stock.

Analysts Set New Price Targets

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

Encore Wire Price Performance

Encore Wire stock opened at $289.07 on Friday. The company has a market capitalization of $4.57 billion, a P/E ratio of 15.34 and a beta of 1.23. Encore Wire Co. has a 1 year low of $150.51 and a 1 year high of $295.90. The business has a 50 day moving average of $281.77 and a 200-day moving average of $243.30.

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

Encore Wire Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Friday, July 5th. Encore Wire’s payout ratio is 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.