Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 54 Shares of Encore Wire Co. (NASDAQ:WIRE)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Encore Wire Co. (NASDAQ:WIRE) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,516 shares of the electronics maker’s stock after purchasing an additional 54 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Encore Wire were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WIRE. U.S. Capital Wealth Advisors LLC bought a new position in Encore Wire in the fourth quarter valued at about $334,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Encore Wire by 14.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,249 shares of the electronics maker’s stock worth $267,000 after buying an additional 158 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of Encore Wire by 0.5% during the fourth quarter. Natixis Advisors L.P. now owns 10,213 shares of the electronics maker’s stock worth $2,181,000 after buying an additional 53 shares during the last quarter. WealthTrust Axiom LLC lifted its holdings in Encore Wire by 6.3% in the fourth quarter. WealthTrust Axiom LLC now owns 3,540 shares of the electronics maker’s stock valued at $756,000 after buying an additional 209 shares during the period. Finally, Chase Investment Counsel Corp bought a new position in Encore Wire in the fourth quarter valued at approximately $854,000. 99.82% of the stock is owned by institutional investors.

Encore Wire Trading Down 0.2 %

Shares of Encore Wire stock opened at $280.36 on Friday. The stock’s fifty day simple moving average is $259.46 and its 200 day simple moving average is $225.59. The company has a market capitalization of $4.43 billion, a PE ratio of 14.87 and a beta of 1.28. Encore Wire Co. has a 12 month low of $150.51 and a 12 month high of $295.90.

Encore Wire (NASDAQ:WIRE) last released its quarterly 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. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The company had revenue of $632.66 million for the quarter, compared to analyst estimates of $579.64 million. During the same quarter last year, the firm posted $6.50 earnings per share. Encore Wire’s revenue was down 4.2% compared to the same quarter last year. Analysts predict that Encore Wire Co. will post 21.24 EPS for the current fiscal year.

Encore Wire Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, April 4th. Encore Wire’s dividend payout ratio (DPR) is presently 0.42%.

Analyst Ratings Changes

WIRE has been the topic of a number of analyst reports. StockNews.com initiated coverage on Encore Wire in a research note on Friday, May 3rd. They issued a “hold” rating on the stock. DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 target price on the stock. in a research note on Tuesday, April 16th. Sidoti restated a “neutral” rating and set a $290.00 target price on shares of Encore Wire in a research report on Tuesday, April 16th. Finally, CJS Securities reiterated a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th.

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.