Diversified Trust Co held its position in Encore Wire Corp. (NASDAQ:WIRE) during the second quarter, Holdings Channel reports. The firm owned 12,357 shares of the company’s stock at the end of the second quarter. Diversified Trust Co’s holdings in Encore Wire Corp. were worth $461,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of WIRE. Capstone Asset Management Co. increased its stake in Encore Wire Corp. by 3.6% in the second quarter. Capstone Asset Management Co. now owns 6,393 shares of the company’s stock valued at $238,000 after buying an additional 220 shares during the period. BNP Paribas Arbitrage SA increased its stake in Encore Wire Corp. by 117.8% in the second quarter. BNP Paribas Arbitrage SA now owns 6,458 shares of the company’s stock valued at $241,000 after buying an additional 3,493 shares during the period. Aperio Group LLC purchased a new stake in Encore Wire Corp. during the first quarter valued at about $278,000. UBS Asset Management Americas Inc. increased its stake in Encore Wire Corp. by 42.5% in the first quarter. UBS Asset Management Americas Inc. now owns 8,164 shares of the company’s stock valued at $318,000 after buying an additional 2,433 shares during the period. Finally, Alpha Windward LLC purchased a new stake in Encore Wire Corp. during the second quarter valued at about $405,000. Institutional investors and hedge funds own 88.82% of the company’s stock.
Encore Wire Corp. (NASDAQ:WIRE) traded up 0.84% during midday trading on Wednesday, hitting $35.96. 84,062 shares of the stock traded hands. The stock has a market cap of $744.23 million, a PE ratio of 17.80 and a beta of 1.98. The company has a 50-day moving average of $37.44 and a 200-day moving average of $38.35. Encore Wire Corp. has a 1-year low of $31.89 and a 1-year high of $44.95.
Encore Wire Corp. (NASDAQ:WIRE) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by $0.19. Encore Wire Corp. had a net margin of 4.28% and a return on equity of 7.73%. The company earned $238.80 million during the quarter, compared to the consensus estimate of $241.88 million. During the same period last year, the company earned $0.54 earnings per share. Encore Wire Corp.’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities analysts expect that Encore Wire Corp. will post $2.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, October 7th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, October 5th. Encore Wire Corp.’s dividend payout ratio (DPR) is presently 3.96%.
Several equities research analysts recently issued reports on WIRE shares. Zacks Investment Research downgraded shares of Encore Wire Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 3rd. Singular Research started coverage on shares of Encore Wire Corp. in a research note on Tuesday, May 31st. They set a “buy” rating and a $47.00 price target on the stock. Sidoti downgraded shares of Encore Wire Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $46.00 to $44.00 in a research note on Thursday, July 28th. Finally, DA Davidson reaffirmed a “hold” rating on shares of Encore Wire Corp. in a research note on Monday, September 19th.
Encore Wire Corp. Company Profile
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 operates in the manufacture of 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 segment.
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