Gotham Asset Management LLC Purchases Shares of 7,699 Encore Wire Co. (WIRE)

Gotham Asset Management LLC purchased a new stake in shares of Encore Wire Co. (NASDAQ:WIRE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,699 shares of the electronics maker’s stock, valued at approximately $375,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC purchased a new position in shares of Encore Wire during the 3rd quarter valued at about $202,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Encore Wire during the 4th quarter valued at about $206,000. Algert Global LLC purchased a new position in shares of Encore Wire during the 4th quarter valued at about $231,000. Ellington Management Group LLC purchased a new position in shares of Encore Wire during the 4th quarter valued at about $243,000. Finally, Capital Fund Management S.A. purchased a new position in shares of Encore Wire during the 4th quarter valued at about $268,000. Institutional investors and hedge funds own 88.87% of the company’s stock.

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NASDAQ WIRE opened at $56.30 on Friday. Encore Wire Co. has a 12 month low of $37.30 and a 12 month high of $58.70. The company has a market capitalization of $1,176.65, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 1.90 and a beta of 2.00.

Encore Wire (NASDAQ:WIRE) last posted its quarterly earnings results on Tuesday, February 20th. The electronics maker reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.28. Encore Wire had a return on equity of 8.94% and a net margin of 5.76%. The company had revenue of $301.29 million for the quarter, compared to analysts’ expectations of $279.70 million. During the same period in the previous year, the firm earned $0.55 EPS. The firm’s revenue was up 25.9% compared to the same quarter last year. analysts anticipate that Encore Wire Co. will post 2.97 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Investors of record on Friday, April 6th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. Encore Wire’s dividend payout ratio is presently 3.07%.

In related news, insider Matthew D. Ford sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $52.45, for a total value of $131,125.00. Following the transaction, the insider now directly owns 4,000 shares of the company’s stock, valued at approximately $209,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.79% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on WIRE. ValuEngine raised Encore Wire from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Zacks Investment Research raised Encore Wire from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a research report on Tuesday, February 27th. BidaskClub cut Encore Wire from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th. Finally, DA Davidson lifted their price objective on Encore Wire to $54.00 and gave the company a “neutral” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $58.00.

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Encore Wire Profile

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

Institutional Ownership by Quarter for Encore Wire (NASDAQ:WIRE)

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