Encore Wire Corporation (WIRE) Position Raised by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio lifted its stake in shares of Encore Wire Corporation (NASDAQ:WIRE) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,974 shares of the electronics maker’s stock after purchasing an additional 154 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Encore Wire Corporation were worth $426,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of WIRE. State of Alaska Department of Revenue increased its stake in Encore Wire Corporation by 78.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,096 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 1,806 shares in the last quarter. Aperio Group LLC grew its stake in Encore Wire Corporation by 25.2% during the 2nd quarter. Aperio Group LLC now owns 6,259 shares of the electronics maker’s stock valued at $267,000 after acquiring an additional 1,260 shares in the last quarter. KCG Holdings Inc. purchased a new position in Encore Wire Corporation during the 1st quarter valued at about $269,000. Suntrust Banks Inc. grew its stake in Encore Wire Corporation by 1.6% during the 2nd quarter. Suntrust Banks Inc. now owns 6,781 shares of the electronics maker’s stock valued at $289,000 after acquiring an additional 104 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Encore Wire Corporation by 62.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,835 shares of the electronics maker’s stock valued at $292,000 after acquiring an additional 2,634 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.
WIRE has been the topic of several research analyst reports. TheStreet cut Encore Wire Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 4th. Zacks Investment Research cut Encore Wire Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. BidaskClub cut Encore Wire Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Sidoti initiated coverage on Encore Wire Corporation in a research note on Thursday, October 19th. They issued a “neutral” rating for the company.
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Shares of Encore Wire Corporation (WIRE) opened at $45.30 on Tuesday. The company has a market capitalization of $934.60, a P/E ratio of 18.79, a P/E/G ratio of 1.94 and a beta of 2.32. Encore Wire Corporation has a 12 month low of $37.30 and a 12 month high of $49.75.
Encore Wire Corporation (NASDAQ:WIRE) last posted its earnings results on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.12. Encore Wire Corporation had a return on equity of 8.42% and a net margin of 4.53%. The firm had revenue of $292.00 million during the quarter, compared to analyst estimates of $279.60 million. During the same period in the previous year, the company earned $0.29 EPS. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. equities analysts anticipate that Encore Wire Corporation will post 2.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, January 5th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.08 annualized dividend and a yield of 0.18%. Encore Wire Corporation’s dividend payout ratio (DPR) is currently 3.35%.
In related news, VP Frank J. Bilban sold 4,136 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $47.50, for a total value of $196,460.00. Following the completion of the sale, the vice president now directly owns 61,150 shares in the company, valued at approximately $2,904,625. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.79% of the stock is currently owned by insiders.
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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