Royce & Associates LP Purchases 13,191 Shares of Encore Wire Corporation (WIRE)
Royce & Associates LP boosted its stake in shares of Encore Wire Corporation (NASDAQ:WIRE) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 701,370 shares of the electronics maker’s stock after buying an additional 13,191 shares during the period. Royce & Associates LP owned about 3.38% of Encore Wire Corporation worth $29,948,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department increased its stake in Encore Wire Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 19,540 shares of the electronics maker’s stock valued at $899,000 after buying an additional 2,949 shares in the last quarter. Swiss National Bank increased its stake in Encore Wire Corporation by 2.9% in the first quarter. Swiss National Bank now owns 32,433 shares of the electronics maker’s stock valued at $1,492,000 after buying an additional 900 shares in the last quarter. BlackRock Inc. increased its stake in Encore Wire Corporation by 52,370.3% in the first quarter. BlackRock Inc. now owns 2,531,167 shares of the electronics maker’s stock valued at $116,433,000 after buying an additional 2,526,343 shares in the last quarter. Teachers Advisors LLC increased its stake in Encore Wire Corporation by 5.3% in the first quarter. Teachers Advisors LLC now owns 271,498 shares of the electronics maker’s stock valued at $12,489,000 after buying an additional 13,669 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Encore Wire Corporation by 0.9% in the first quarter. Legal & General Group Plc now owns 34,420 shares of the electronics maker’s stock valued at $1,582,000 after buying an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 89.13% of the company’s stock.
Shares of Encore Wire Corporation (NASDAQ WIRE) opened at 40.60 on Monday. The company’s 50-day moving average price is $41.39 and its 200 day moving average price is $43.36. Encore Wire Corporation has a one year low of $33.70 and a one year high of $49.75. The company has a market cap of $842.73 million, a P/E ratio of 20.10 and a beta of 2.24.
Encore Wire Corporation (NASDAQ:WIRE) last posted its earnings results on Tuesday, August 1st. The electronics maker reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.06. Encore Wire Corporation had a net margin of 4.01% and a return on equity of 7.42%. The company had revenue of $291.50 million during the quarter, compared to analyst estimates of $282.25 million. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts anticipate that Encore Wire Corporation will post $2.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be issued a $0.02 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.08 annualized dividend and a yield of 0.20%. Encore Wire Corporation’s dividend payout ratio (DPR) is presently 3.98%.
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Several equities research analysts have recently commented on WIRE shares. Zacks Investment Research upgraded Encore Wire Corporation from a “sell” rating to a “hold” rating in a report on Friday. BidaskClub downgraded Encore Wire Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, TheStreet downgraded Encore Wire Corporation from a “b” rating to a “c+” rating in a report on Friday, August 4th.
About Encore Wire Corporation
Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.
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