DekaBank Deutsche Girozentrale Sells 5,042 Shares of Encore Wire Co. (NASDAQ:WIRE)

DekaBank Deutsche Girozentrale decreased its stake in shares of Encore Wire Co. (NASDAQ:WIRE) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,282 shares of the electronics maker’s stock after selling 5,042 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Encore Wire were worth $11,079,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Spire Wealth Management lifted its position in shares of Encore Wire by 42.0% in the first quarter. Spire Wealth Management now owns 142 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 42 shares in the last quarter. Blue Trust Inc. lifted its position in Encore Wire by 69.2% during the fourth quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock valued at $43,000 after purchasing an additional 83 shares during the last quarter. Quest Partners LLC bought a new stake in Encore Wire during the fourth quarter worth approximately $80,000. GAMMA Investing LLC purchased a new stake in Encore Wire during the 4th quarter valued at $99,000. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of Encore Wire by 10.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 414 shares of the electronics maker’s stock worth $109,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 99.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on WIRE shares. DA Davidson downgraded shares of Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target on the stock. in a research note on Tuesday, April 16th. StockNews.com assumed coverage on Encore Wire in a research note on Tuesday, July 30th. They issued a “hold” rating for the company. CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th. Finally, Sidoti reissued a “neutral” rating and issued a $290.00 price objective on shares of Encore Wire in a report on Tuesday, April 16th.

Encore Wire Price Performance

Shares of NASDAQ:WIRE remained flat at $289.84 during trading hours on Friday. 266 shares of the company’s stock were exchanged, compared to its average volume of 318,575. The business’s 50-day moving average is $289.02 and its 200 day moving average is $263.93. The stock has a market cap of $4.58 billion, a PE ratio of 15.38 and a beta of 1.19. Encore Wire Co. has a 52 week low of $150.51 and a 52 week high of $295.90.

Encore Wire Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Friday, July 5th. Encore Wire’s dividend payout ratio is currently 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.