EAM Global Investors LLC Sells 8,423 Shares of Encore Wire Co. (NASDAQ:WIRE)

EAM Global Investors LLC cut its position in shares of Encore Wire Co. (NASDAQ:WIRE – Get Rating) by 34.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,691 shares of the electronics maker’s stock after selling 8,423 shares during the quarter. EAM Global Investors LLC owned approximately 0.08% of Encore Wire worth $2,245,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WIRE. EverSource Wealth Advisors LLC bought a new position in shares of Encore Wire during the 4th quarter valued at about $29,000. Koshinski Asset Management Inc. bought a new position in shares of Encore Wire during the 4th quarter valued at about $40,000. First Quadrant L P CA bought a new position in shares of Encore Wire during the 4th quarter valued at about $41,000. Sageworth Trust Co of South Dakota bought a new position in shares of Encore Wire during the 4th quarter valued at about $42,000. Finally, Archer Investment Corp purchased a new stake in Encore Wire during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 90.89% of the company’s stock.

Several brokerages recently weighed in on WIRE. DA Davidson increased their target price on Encore Wire from $150.00 to $175.00 in a report on Monday, May 2nd. StockNews.com upgraded Encore Wire from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded Encore Wire from a “hold” rating to a “strong-buy” rating and set a $142.00 target price for the company in a report on Thursday, May 5th.

NASDAQ WIRE traded down $1.42 on Thursday, hitting $123.57. The company’s stock had a trading volume of 1,055 shares, compared to its average volume of 244,023. Encore Wire Co. has a 52-week low of $65.98 and a 52-week high of $151.64. The company’s 50-day simple moving average is $118.67 and its 200 day simple moving average is $125.13. The firm has a market cap of $2.44 billion, a P/E ratio of 3.88 and a beta of 1.10.

Encore Wire (NASDAQ:WIRE – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The electronics maker reported $7.96 earnings per share for the quarter, topping the consensus estimate of $2.38 by $5.58. Encore Wire had a return on equity of 52.38% and a net margin of 23.05%. The business had revenue of $723.07 million during the quarter, compared to analysts’ expectations of $567.63 million. During the same quarter last year, the business posted $1.99 EPS. The business’s revenue was up 62.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Encore Wire Co. will post 19.18 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.06%. The ex-dividend date of this dividend is Thursday, June 30th. Encore Wire’s dividend payout ratio is currently 0.25%.

Encore Wire Profile (Get Rating)

Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. The company's products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2 cables and metal-clad and armored cables for use as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; USE-2 cables; and other types of wire products.

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