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

Encore Wire Co. (NASDAQ:WIRE) saw an uptick in trading volume on Friday . 118,828 shares changed hands during trading, a decline of 60% from the previous session’s volume of 300,329 shares.The stock last traded at $289.89 and had previously closed at $289.75.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WIRE. DA Davidson lowered 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. CJS Securities restated a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th. Sidoti restated a “neutral” rating and issued a $290.00 price objective on shares of Encore Wire in a report on Tuesday, April 16th. Finally, StockNews.com started coverage on shares of Encore Wire in a report on Friday. They issued a “hold” rating for the company.

Encore Wire Stock Up 0.0 %

The company’s fifty day simple moving average is $284.68 and its 200 day simple moving average is $250.66. The firm has a market capitalization of $4.58 billion, a PE ratio of 15.38 and a beta of 1.23.

Encore Wire (NASDAQ:WIRE) last announced its earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $579.64 million. During the same quarter last year, the firm earned $6.50 earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts forecast that Encore Wire Co. will post 21.24 EPS for the current year.

Encore Wire Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be paid 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 of this dividend is Friday, July 5th. Encore Wire’s dividend payout ratio is 0.42%.

Hedge Funds Weigh In On Encore Wire

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Boston Partners bought a new stake in shares of Encore Wire during the first quarter valued at approximately $31,764,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Encore Wire during the first quarter valued at approximately $24,993,000. Norges Bank bought a new stake in shares of Encore Wire during the fourth quarter valued at approximately $20,223,000. Pacer Advisors Inc. increased its position in shares of Encore Wire by 10.7% during the fourth quarter. Pacer Advisors Inc. now owns 472,555 shares of the electronics maker’s stock valued at $100,938,000 after acquiring an additional 45,863 shares in the last quarter. Finally, Ogborne Capital Management LLC bought a new stake in shares of Encore Wire during the fourth quarter valued at approximately $8,278,000. Institutional investors own 99.82% of the company’s stock.

About Encore Wire

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.