Citadel Advisors LLC Buys 4,505 Shares of Encore Wire Corporation (WIRE)
Citadel Advisors LLC boosted its stake in shares of Encore Wire Corporation (NASDAQ:WIRE) by 42.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,109 shares of the electronics maker’s stock after buying an additional 4,505 shares during the quarter. Citadel Advisors LLC owned approximately 0.07% of Encore Wire Corporation worth $645,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in WIRE. BlackRock Inc. lifted its holdings in Encore Wire Corporation by 52,370.3% during the 1st quarter. BlackRock Inc. now owns 2,531,167 shares of the electronics maker’s stock worth $116,433,000 after buying an additional 2,526,343 shares during the period. Thrivent Financial For Lutherans lifted its holdings in 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 worth $19,614,000 after buying an additional 215,500 shares during the period. Vanguard Group Inc. lifted its holdings in Encore Wire Corporation by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 1,782,978 shares of the electronics maker’s stock worth $82,017,000 after buying an additional 98,933 shares during the period. Ngam Advisors L.P. acquired a new position in Encore Wire Corporation during the 1st quarter worth about $2,371,000. Finally, Hodges Capital Management Inc. lifted its holdings in Encore Wire Corporation by 4.7% during the 2nd quarter. Hodges Capital Management Inc. now owns 1,056,084 shares of the electronics maker’s stock worth $45,095,000 after buying an additional 47,438 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 research reports. Zacks Investment Research downgraded Encore Wire Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BidaskClub downgraded Encore Wire Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, TheStreet downgraded Encore Wire Corporation from a “b” rating to a “c+” rating in a report on Friday, August 4th.
Encore Wire Corporation (NASDAQ:WIRE) opened at 45.90 on Friday. Encore Wire Corporation has a one year low of $33.70 and a one year high of $49.75. The firm has a market capitalization of $952.75 million, a P/E ratio of 22.72 and a beta of 2.25. The firm’s 50-day moving average price is $42.66 and its 200 day moving average price is $42.81.
Encore Wire Corporation (NASDAQ:WIRE) last released its earnings results on Tuesday, August 1st. The electronics maker reported $0.52 earnings per share 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 during the quarter, compared to analyst estimates of $282.25 million. During the same period in the previous year, the company posted $0.38 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that Encore Wire Corporation will post $2.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, October 5th. Encore Wire Corporation’s payout ratio is 3.98%.
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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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