Yousif Capital Management LLC Lowers Holdings in Encore Wire Co. (NASDAQ:WIRE)

Yousif Capital Management LLC lowered its holdings in Encore Wire Co. (NASDAQ:WIRE) by 8.3% in the fourth quarter, HoldingsChannel reports. The firm owned 8,347 shares of the electronics maker’s stock after selling 753 shares during the quarter. Yousif Capital Management LLC’s holdings in Encore Wire were worth $1,783,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew 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 worth $1,028,000 after purchasing an additional 4,072 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of Encore Wire by 31.1% during the third quarter. Handelsbanken Fonder AB now owns 4,637 shares of the electronics maker’s stock worth $846,000 after buying an additional 1,100 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Encore Wire by 15.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 15,258 shares of the electronics maker’s stock worth $2,784,000 after buying an additional 2,050 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in Encore Wire by 28.3% in the third quarter. Kingswood Wealth Advisors LLC now owns 2,019 shares of the electronics maker’s stock valued at $368,000 after acquiring an additional 445 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its stake in Encore Wire by 8.6% in the third quarter. Tectonic Advisors LLC now owns 4,711 shares of the electronics maker’s stock worth $859,000 after acquiring an additional 374 shares during the last quarter. 99.82% of the stock is owned by hedge funds and other institutional investors.

Encore Wire Trading Up 0.6 %

Shares of Encore Wire stock opened at $281.00 on Thursday. The company has a fifty day simple moving average of $253.09 and a 200-day simple moving average of $221.54. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 14.91 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 data 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 net margin of 12.45% and a return on equity of 17.77%. The company had revenue of $632.66 million during the quarter, compared to the consensus estimate of $579.64 million. During the same quarter in the prior year, the firm posted $6.50 earnings per share. Encore Wire’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, analysts forecast that Encore Wire Co. will post 21.24 earnings per share for the current fiscal year.

Encore Wire Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were paid 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 presently 0.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WIRE shares. Sidoti reissued a “neutral” rating and issued a $290.00 price objective on shares of Encore Wire in a research report on Tuesday, April 16th. CJS Securities restated a “market perform” rating on shares of Encore Wire in a research note on Friday, April 19th. DA Davidson cut Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective for the company. in a research report on Tuesday, April 16th. Finally, StockNews.com initiated coverage on Encore Wire in a research report on Thursday, April 25th. They set a “hold” rating on the stock.

Encore Wire 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.