MorganRosel Wealth Management LLC acquired a new position in shares of Encore Wire Co. (NASDAQ:WIRE – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,286 shares of the electronics maker’s stock, valued at approximately $1,126,000.
Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Encore Wire by 69.2% during the fourth quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock worth $43,000 after purchasing an additional 83 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Encore Wire in the 4th quarter worth approximately $80,000. Beaird Harris Wealth Management LLC bought a new position in shares of Encore Wire in the third quarter valued at approximately $91,000. GAMMA Investing LLC bought a new position in shares of Encore Wire in the fourth quarter valued at approximately $99,000. Finally, Banque Cantonale Vaudoise increased its position in shares of Encore Wire by 10.7% during the first quarter. Banque Cantonale Vaudoise now owns 414 shares of the electronics maker’s stock valued at $109,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 99.82% of the company’s stock.
Encore Wire Stock Performance
Shares of Encore Wire stock opened at $289.83 on Monday. The stock has a market capitalization of $4.58 billion, a P/E ratio of 15.38 and a beta of 1.23. Encore Wire Co. has a 52-week low of $150.51 and a 52-week high of $295.90. The stock’s 50-day simple moving average is $284.68 and its 200 day simple moving average is $251.00.
Encore Wire Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, July 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. Encore Wire’s dividend payout ratio is currently 0.42%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on WIRE. StockNews.com started coverage on Encore Wire in a research note on Friday. They issued a “hold” rating for the company. DA Davidson downgraded shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective for the company. in a report on Tuesday, April 16th. CJS Securities reiterated a “market perform” rating on shares of Encore Wire in a research note on Friday, April 19th. Finally, Sidoti restated a “neutral” rating and set a $290.00 price target on shares of Encore Wire in a research note on Tuesday, April 16th.
View Our Latest Analysis on Encore Wire
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.
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