Encore Wire (NASDAQ:WIRE) Sees Unusually-High Trading Volume

Encore Wire Co. (NASDAQ:WIRE) saw an uptick in trading volume on Thursday . 99,134 shares changed hands during trading, a decline of 65% from the previous session’s volume of 281,744 shares.The stock last traded at $289.60 and had previously closed at $289.30.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WIRE. Sidoti reissued a “neutral” rating and set a $290.00 price target on shares of Encore Wire in a research report on Tuesday, April 16th. CJS Securities reissued a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. StockNews.com began coverage on shares of Encore Wire in a research report on Thursday. They set 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 price target for the company. in a research report on Tuesday, April 16th.

Encore Wire Stock Performance

The company’s 50-day moving average price is $284.50 and its 200 day moving average price is $246.86. The stock has a market capitalization of $4.57 billion, a PE ratio of 15.35 and a beta of 1.23.

Encore Wire (NASDAQ:WIRE) last posted its earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 EPS for the quarter, topping 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 firm had revenue of $632.66 million during the quarter, compared to analysts’ expectations of $579.64 million. During the same period last year, the company posted $6.50 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts expect that Encore Wire Co. will post 21.24 earnings per share for the current year.

Encore Wire Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 5th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. Encore Wire’s payout ratio is 0.42%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Spire Wealth Management increased its stake in shares of Encore Wire by 42.0% in the 1st quarter. Spire Wealth Management now owns 142 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 42 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Encore Wire by 69.2% in the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 83 shares in the last quarter. Quest Partners LLC bought a new position in shares of Encore Wire in the 4th quarter worth about $80,000. Beaird Harris Wealth Management LLC bought a new position in shares of Encore Wire in the 3rd quarter worth about $91,000. Finally, GAMMA Investing LLC bought a new position in shares of Encore Wire in the 4th quarter worth about $99,000. 99.82% of the stock is currently owned by institutional investors.

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.