Federated Hermes Inc. Boosts Holdings in Encore Wire Co. (NASDAQ:WIRE)

Federated Hermes Inc. boosted its position in shares of Encore Wire Co. (NASDAQ:WIRE) by 32.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,955 shares of the electronics maker’s stock after purchasing an additional 1,959 shares during the quarter. Federated Hermes Inc. owned about 0.05% of Encore Wire worth $1,699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC raised its stake in Encore Wire by 260.9% during the 3rd quarter. SG Americas Securities LLC now owns 5,633 shares of the electronics maker’s stock valued at $1,028,000 after buying an additional 4,072 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Encore Wire by 31.1% in the third quarter. Handelsbanken Fonder AB now owns 4,637 shares of the electronics maker’s stock valued at $846,000 after acquiring an additional 1,100 shares during the period. Aquila Investment Management LLC boosted its position in Encore Wire by 50.0% in the third quarter. Aquila Investment Management LLC now owns 9,000 shares of the electronics maker’s stock worth $1,642,000 after purchasing an additional 3,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Encore Wire by 15.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 15,258 shares of the electronics maker’s stock valued at $2,784,000 after purchasing an additional 2,050 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its stake in shares of Encore Wire by 28.3% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 2,019 shares of the electronics maker’s stock valued at $368,000 after purchasing an additional 445 shares during the period. 99.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WIRE shares. CJS Securities restated a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective for the company. in a research note on Tuesday, April 16th. StockNews.com assumed coverage on Encore Wire in a research report on Thursday, April 25th. They set a “hold” rating on the stock. Finally, Sidoti restated a “neutral” rating and issued a $290.00 price target on shares of Encore Wire in a research report on Tuesday, April 16th.

Encore Wire Stock Down 0.7 %

NASDAQ:WIRE opened at $283.03 on Tuesday. The business’s 50-day simple moving average is $250.63 and its two-hundred day simple moving average is $220.41. Encore Wire Co. has a 52 week low of $150.51 and a 52 week high of $295.90. The stock has a market cap of $4.47 billion, a PE ratio of 15.01 and a beta of 1.31.

Encore Wire (NASDAQ:WIRE) last issued its earnings results on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $579.64 million. During the same quarter last year, the company earned $6.50 EPS. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. Sell-side analysts anticipate that Encore Wire Co. will post 21.23 earnings per share for the current fiscal year.

Encore Wire Announces Dividend

The business also recently announced 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 dividend yield of 0.03%. Encore Wire’s dividend payout ratio is 0.42%.

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.