Dean Investment Associates LLC cut its holdings in shares of Encore Wire Co. (NASDAQ:WIRE) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,905 shares of the electronics maker’s stock after selling 4,670 shares during the period. Dean Investment Associates LLC owned approximately 0.35% of Encore Wire worth $3,547,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of WIRE. Piedmont Investment Advisors LLC bought a new stake in shares of Encore Wire in the third quarter valued at about $202,000. Algert Global LLC bought a new stake in shares of Encore Wire in the fourth quarter valued at about $231,000. SG Americas Securities LLC bought a new stake in shares of Encore Wire in the third quarter valued at about $272,000. Crossmark Global Holdings Inc. bought a new stake in shares of Encore Wire in the third quarter valued at about $273,000. Finally, Suntrust Banks Inc. lifted its holdings in shares of Encore Wire by 1.6% in the second quarter. Suntrust Banks Inc. now owns 6,781 shares of the electronics maker’s stock valued at $289,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 88.21% of the company’s stock.
A number of analysts have recently commented on the company. BidaskClub lowered Encore Wire from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 6th. TheStreet raised Encore Wire from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Sidoti started coverage on Encore Wire in a research report on Thursday, October 19th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research downgraded Encore Wire from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 2nd.
In other Encore Wire news, CFO Frank J. Bilban sold 8,924 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $51.52, for a total transaction of $459,764.48. Following the transaction, the chief financial officer now owns 19,900 shares of the company’s stock, valued at $1,025,248. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Matthew D. Ford sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $46.00, for a total value of $46,000.00. Following the transaction, the insider now directly owns 2,500 shares in the company, valued at approximately $115,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,395 shares of company stock worth $2,311,704. 3.79% of the stock is owned by company insiders.
About Encore Wire
Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.
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