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.
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.
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.
TRADEMARK VIOLATION NOTICE: “Gotham Asset Management LLC Purchases Shares of 7,699 Encore Wire Co. (WIRE)” was first reported by Week Herald and is the sole property of of Week Herald. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://weekherald.com/2018/04/20/gotham-asset-management-llc-acquires-new-holdings-in-encore-wire-co-wire.html.
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.
Receive News & Ratings for Encore Wire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Wire and related companies with MarketBeat.com's FREE daily email newsletter.