Public Sector Pension investment Board Trims Stake in Encore Wire Corporation (WIRE)

Public Sector Pension investment Board trimmed its position in shares of Encore Wire Corporation (NASDAQ:WIRE) by 28.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,736 shares of the electronics maker’s stock after selling 4,300 shares during the quarter. Public Sector Pension investment Board owned approximately 0.05% of Encore Wire Corporation worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. lifted its holdings in shares of Encore Wire Corporation by 16.9% during the 2nd quarter. Citigroup Inc. now owns 21,971 shares of the electronics maker’s stock valued at $938,000 after buying an additional 3,181 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Encore Wire Corporation by 0.8% during the 2nd quarter. Mutual of America Capital Management LLC now owns 131,167 shares of the electronics maker’s stock valued at $5,601,000 after buying an additional 1,082 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of Encore Wire Corporation by 88.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 459,350 shares of the electronics maker’s stock valued at $19,614,000 after buying an additional 215,500 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Encore Wire Corporation by 8.0% during the 2nd quarter. Teachers Advisors LLC now owns 293,312 shares of the electronics maker’s stock valued at $12,524,000 after buying an additional 21,814 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Encore Wire Corporation by 13.4% during the 2nd quarter. Wells Fargo & Company MN now owns 23,410 shares of the electronics maker’s stock valued at $999,000 after buying an additional 2,760 shares during the last quarter. Institutional investors and hedge funds own 89.13% of the company’s stock.

Several brokerages have recently issued reports on WIRE. TheStreet lowered Encore Wire Corporation from a “b” rating to a “c+” rating in a report on Friday, August 4th. BidaskClub lowered Encore Wire Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Zacks Investment Research lowered Encore Wire Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th.

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Shares of Encore Wire Corporation (WIRE) opened at 45.95 on Wednesday. Encore Wire Corporation has a 12-month low of $33.70 and a 12-month high of $49.75. The company has a 50-day moving average price of $43.12 and a 200 day moving average price of $42.79. The firm has a market capitalization of $953.78 million, a price-to-earnings ratio of 22.75 and a beta of 2.25.

Encore Wire Corporation (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, August 1st. The electronics maker reported $0.52 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.06). Encore Wire Corporation had a net margin of 4.01% and a return on equity of 7.42%. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $282.25 million. During the same period last year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts expect that Encore Wire Corporation will post $2.20 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a $0.02 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.17%. Encore Wire Corporation’s payout ratio is 3.98%.

Encore Wire Corporation Company Profile

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

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