Employees Retirement System of Texas Has $1,665,000 Stake in Encore Wire Corporation (WIRE)

Employees Retirement System of Texas held its stake in shares of Encore Wire Corporation (NASDAQ:WIRE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,000 shares of the electronics maker’s stock at the end of the 2nd quarter. Employees Retirement System of Texas owned approximately 0.19% of Encore Wire Corporation worth $1,665,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WIRE. State of Alaska Department of Revenue increased its holdings in Encore Wire Corporation by 78.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 4,096 shares of the electronics maker’s stock valued at $174,000 after buying an additional 1,806 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Encore Wire Corporation by 3.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,201 shares of the electronics maker’s stock valued at $193,000 after buying an additional 143 shares during the period. Mason Street Advisors LLC increased its holdings in Encore Wire Corporation by 7.1% in the 1st quarter. Mason Street Advisors LLC now owns 4,849 shares of the electronics maker’s stock valued at $223,000 after buying an additional 320 shares during the period. Karp Capital Management Corp bought a new stake in Encore Wire Corporation in the 1st quarter valued at $230,000. Finally, Aperio Group LLC increased its holdings in Encore Wire Corporation by 25.2% in the 2nd quarter. Aperio Group LLC now owns 6,259 shares of the electronics maker’s stock valued at $267,000 after buying an additional 1,260 shares during the period. 89.13% of the stock is currently owned by hedge funds and other institutional investors.

WIRE has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Encore Wire Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. TheStreet downgraded shares of Encore Wire Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 4th. Finally, BidaskClub downgraded shares of Encore Wire Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th.

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Shares of Encore Wire Corporation (NASDAQ:WIRE) opened at 45.65 on Friday. The firm has a market cap of $947.56 million, a P/E ratio of 22.60 and a beta of 2.25. Encore Wire Corporation has a 52 week low of $33.70 and a 52 week high of $49.75. The stock has a 50 day moving average of $43.50 and a 200 day moving average of $42.83.

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 Zacks’ consensus estimate of $0.58 by ($0.06). Encore Wire Corporation had a return on equity of 7.42% and a net margin of 4.01%. The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $282.25 million. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts anticipate that Encore Wire Corporation will post $2.20 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date is Thursday, October 5th. Encore Wire Corporation’s payout ratio is currently 3.98%.

About Encore Wire Corporation

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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