Encore Wire Co. (NASDAQ:WIRE) Shares Sold by Skylands Capital LLC

Skylands Capital LLC decreased its holdings in shares of Encore Wire Co. (NASDAQ:WIRE) by 80.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,700 shares of the electronics maker’s stock after selling 15,100 shares during the period. Skylands Capital LLC’s holdings in Encore Wire were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Seizert Capital Partners LLC purchased a new position in Encore Wire during the third quarter valued at $24,143,000. LSV Asset Management lifted its stake in Encore Wire by 21.6% in the 3rd quarter. LSV Asset Management now owns 574,828 shares of the electronics maker’s stock valued at $104,883,000 after buying an additional 102,062 shares in the last quarter. First Dallas Securities Inc. boosted its holdings in Encore Wire by 226.5% in the 3rd quarter. First Dallas Securities Inc. now owns 97,505 shares of the electronics maker’s stock worth $17,791,000 after buying an additional 67,640 shares during the last quarter. Oakworth Capital Inc. increased its stake in Encore Wire by 2,775.4% during the 3rd quarter. Oakworth Capital Inc. now owns 64,696 shares of the electronics maker’s stock worth $11,804,000 after buying an additional 62,446 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Encore Wire by 501.7% during the third quarter. Stifel Financial Corp now owns 74,015 shares of the electronics maker’s stock valued at $13,505,000 after acquiring an additional 61,714 shares during the last quarter. Institutional investors and hedge funds own 99.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a research note on Friday, April 19th. Sidoti reiterated a “neutral” rating and issued a $290.00 target price on shares of Encore Wire in a research report on Tuesday, April 16th. StockNews.com initiated coverage on shares of Encore Wire in a research report on Thursday, April 25th. They set a “hold” rating on the stock. Finally, DA Davidson cut shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective for the company. in a research note on Tuesday, April 16th.

Encore Wire Stock Performance

NASDAQ WIRE opened at $283.50 on Tuesday. Encore Wire Co. has a fifty-two week low of $150.51 and a fifty-two week high of $295.90. The stock’s fifty day moving average is $250.63 and its two-hundred day moving average is $220.41. The firm has a market capitalization of $4.48 billion, a P/E ratio of 15.01 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 EPS for the quarter, topping analysts’ consensus estimates of $3.65 by $0.27. The company had revenue of $632.66 million for the quarter, compared to the consensus estimate of $579.64 million. Encore Wire had a net margin of 12.45% and a return on equity of 17.77%. Encore Wire’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.50 earnings per share. As a group, sell-side analysts forecast that Encore Wire Co. will post 21.23 EPS for the current year.

Encore Wire Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were 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 of this dividend was Thursday, April 4th. Encore Wire’s dividend payout ratio is presently 0.42%.

Encore Wire 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.