Encore Wire (NASDAQ:WIRE) Given Market Perform Rating at CJS Securities

CJS Securities reissued their market perform rating on shares of Encore Wire (NASDAQ:WIRE) in a report released on Friday morning, Benzinga reports.

WIRE has been the topic of several other research reports. Sidoti reiterated a neutral rating and issued a $290.00 price target on shares of Encore Wire in a research note on Tuesday, April 16th. StockNews.com lowered Encore Wire from a buy rating to a hold rating in a research note on Friday, March 22nd. Finally, DA Davidson lowered 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.

Encore Wire Price Performance

Shares of NASDAQ WIRE opened at $283.09 on Friday. The stock has a market capitalization of $4.47 billion, a PE ratio of 13.21 and a beta of 1.31. The business has a fifty day moving average price of $245.50 and a two-hundred day moving average price of $217.02. Encore Wire has a fifty-two week low of $138.20 and a fifty-two week high of $295.90.

Encore Wire (NASDAQ:WIRE) last announced its quarterly earnings data on Wednesday, February 14th. The electronics maker reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.05 by $0.05. The firm had revenue of $633.78 million during the quarter, compared to analysts’ expectations of $601.48 million. Encore Wire had a return on equity of 20.92% and a net margin of 14.50%. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.28 EPS. On average, equities analysts expect that Encore Wire will post 21.23 EPS for the current year.

Encore Wire Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. Encore Wire’s dividend payout ratio is currently 0.37%.

Institutional Investors Weigh In On Encore Wire

A number of hedge funds and other institutional investors have recently bought and sold shares of WIRE. Blue Trust Inc. grew its position in Encore Wire by 69.2% during the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 83 shares during the last quarter. Quest Partners LLC bought a new stake in Encore Wire during the 4th quarter worth $80,000. Beaird Harris Wealth Management LLC bought a new stake in Encore Wire during the 3rd quarter worth $91,000. GAMMA Investing LLC bought a new stake in Encore Wire during the 4th quarter worth $99,000. Finally, Banque Cantonale Vaudoise grew its position in Encore Wire by 10.7% during 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. Institutional investors own 99.82% of the company’s stock.

Encore Wire Company Profile

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.