Encore Wire Co. (WIRE) Position Raised by Frontier Capital Management Co. LLC

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Frontier Capital Management Co. LLC increased its position in shares of Encore Wire Co. (NASDAQ:WIRE) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,068,595 shares of the electronics maker’s stock after purchasing an additional 50,187 shares during the period. Frontier Capital Management Co. LLC owned 5.13% of Encore Wire worth $53,537,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new position in Encore Wire in the first quarter worth approximately $203,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Encore Wire in the second quarter worth approximately $208,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Encore Wire in the second quarter worth approximately $209,000. Zebra Capital Management LLC acquired a new position in Encore Wire in the second quarter worth approximately $232,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in Encore Wire by 34.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 5,523 shares of the electronics maker’s stock worth $262,000 after buying an additional 1,412 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Encore Wire stock opened at $44.20 on Thursday. The company has a market capitalization of $928.41 million, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.61 and a beta of 1.83. Encore Wire Co. has a 1 year low of $40.96 and a 1 year high of $58.70.

Encore Wire (NASDAQ:WIRE) last posted its quarterly earnings data on Tuesday, October 30th. The electronics maker reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.42. Encore Wire had a net margin of 6.42% and a return on equity of 10.54%. The firm had revenue of $340.70 million for the quarter, compared to analysts’ expectations of $302.86 million. During the same period in the previous year, the company posted $0.67 EPS. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities analysts forecast that Encore Wire Co. will post 2.76 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Friday, October 5th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.18%. The ex-dividend date was Thursday, October 4th. Encore Wire’s payout ratio is 3.07%.

Several research firms have issued reports on WIRE. BidaskClub upgraded shares of Encore Wire from a “sell” rating to a “hold” rating in a research report on Saturday, September 15th. DA Davidson set a $60.00 price target on shares of Encore Wire and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Encore Wire from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.00.

Encore Wire Company 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.

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

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