Nations Financial Group Inc. IA ADV Purchases 41 Shares of Encore Wire Co. (NASDAQ:WIRE)

Nations Financial Group Inc. IA ADV raised its stake in Encore Wire Co. (NASDAQ:WIRE) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,330 shares of the electronics maker’s stock after acquiring an additional 41 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Encore Wire were worth $1,138,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Journey Strategic Wealth LLC purchased a new stake in shares of Encore Wire during the fourth quarter valued at $202,000. Aigen Investment Management LP bought a new stake in Encore Wire during the 4th quarter valued at approximately $262,000. Assetmark Inc. raised its stake in Encore Wire by 14.8% during the 4th quarter. Assetmark Inc. now owns 25,051 shares of the electronics maker’s stock valued at $5,351,000 after purchasing an additional 3,232 shares during the period. Quest Partners LLC bought a new stake in Encore Wire during the 4th quarter valued at approximately $80,000. Finally, UBS Group AG raised its stake in Encore Wire by 2.0% during the 4th quarter. UBS Group AG now owns 52,564 shares of the electronics maker’s stock valued at $11,228,000 after purchasing an additional 1,036 shares during the period. 99.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WIRE has been the topic of several recent analyst reports. StockNews.com initiated coverage on Encore Wire in a research note on Sunday, May 19th. They set a “hold” rating on the stock. CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a research note on Friday, April 19th. DA Davidson downgraded Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective on the stock. in a research note on Tuesday, April 16th. Finally, Sidoti reaffirmed a “neutral” rating and issued a $290.00 price objective on shares of Encore Wire in a research note on Tuesday, April 16th.

Encore Wire Price Performance

Shares of Encore Wire stock traded up $1.75 on Friday, reaching $278.69. The company had a trading volume of 196,702 shares, compared to its average volume of 224,632. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 14.78 and a beta of 1.28. The firm’s 50-day moving average price is $271.46 and its two-hundred day moving average price is $233.72. Encore Wire Co. has a 1 year low of $150.51 and a 1 year high of $295.90.

Encore Wire (NASDAQ:WIRE) last announced 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 firm had revenue of $632.66 million during the quarter, compared to analysts’ expectations of $579.64 million. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.50 EPS. As a group, analysts anticipate that Encore Wire Co. will post 21.24 EPS for the current year.

Encore Wire Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Friday, July 5th. Encore Wire’s dividend payout ratio (DPR) is 0.42%.

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.