95,110 Shares in Encore Wire Co. (NASDAQ:WIRE) Acquired by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. purchased a new position in Encore Wire Co. (NASDAQ:WIRE) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 95,110 shares of the electronics maker’s stock, valued at approximately $24,993,000. Vaughan Nelson Investment Management L.P. owned about 0.60% of Encore Wire at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Encore Wire by 69.2% in the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock worth $43,000 after purchasing an additional 83 shares during the last quarter. Quest Partners LLC bought a new stake in Encore Wire during the 4th quarter valued at $80,000. Banque Cantonale Vaudoise raised its stake in Encore Wire by 10.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 414 shares of the electronics maker’s stock valued at $109,000 after acquiring an additional 40 shares in the last quarter. GAMMA Investing LLC bought a new stake in Encore Wire during the 4th quarter valued at $99,000. Finally, Beaird Harris Wealth Management LLC bought a new stake in Encore Wire during the 3rd quarter valued at $91,000. Institutional investors own 99.82% of the company’s stock.

Encore Wire Stock Performance

Shares of WIRE stock opened at $289.84 on Wednesday. Encore Wire Co. has a 1 year low of $150.51 and a 1 year high of $295.90. The stock has a market cap of $4.58 billion, a PE ratio of 15.38 and a beta of 1.19. The business’s fifty day moving average is $284.94 and its 200-day moving average is $252.11.

Encore Wire (NASDAQ:WIRE) last issued its quarterly 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 analysts’ expectations of $579.64 million. During the same period last year, the firm earned $6.50 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. Equities research analysts predict that Encore Wire Co. will post 21.24 earnings per share for the current year.

Encore Wire Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Friday, July 5th. Encore Wire’s dividend payout ratio (DPR) is presently 0.42%.

Analyst Ratings Changes

Several analysts have weighed in on WIRE shares. DA Davidson downgraded 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. CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a research note on Friday, April 19th. StockNews.com started coverage on Encore Wire in a research note on Friday, June 28th. They set a “hold” rating on the stock. Finally, Sidoti reaffirmed a “neutral” rating and set a $290.00 target price on shares of Encore Wire in a research note on Tuesday, April 16th.

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.