MetLife Investment Advisors LLC Sells 1,632 Shares of Encore Wire Co. (NASDAQ:WIRE)

MetLife Investment Advisors LLC cut its position in Encore Wire Co. (NASDAQ:WIRE) by 16.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,097 shares of the electronics maker’s stock after selling 1,632 shares during the period. MetLife Investment Advisors LLC’s holdings in Encore Wire were worth $463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WIRE. Quadrant Capital Group LLC grew its position in Encore Wire by 377.7% in the first quarter. Quadrant Capital Group LLC now owns 535 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 423 shares in the last quarter. Bremer Trust National Association bought a new stake in shares of Encore Wire during the 4th quarter valued at approximately $30,000. Bremer Bank National Association bought a new stake in shares of Encore Wire during the 1st quarter valued at approximately $36,000. Strs Ohio bought a new stake in shares of Encore Wire during the 1st quarter valued at approximately $97,000. Finally, Denali Advisors LLC bought a new stake in shares of Encore Wire during the 1st quarter valued at approximately $126,000. Institutional investors own 88.84% of the company’s stock.

Shares of NASDAQ WIRE traded up $0.32 during trading on Thursday, hitting $55.16. The stock had a trading volume of 48,600 shares, compared to its average volume of 86,029. The firm has a market capitalization of $1.14 billion, a P/E ratio of 14.75, a PEG ratio of 1.51 and a beta of 1.54. The company’s fifty day moving average price is $54.51. Encore Wire Co. has a 12 month low of $40.96 and a 12 month high of $61.68.

Encore Wire (NASDAQ:WIRE) last released its quarterly earnings data on Tuesday, April 30th. The electronics maker reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.08). The business had revenue of $314.71 million for the quarter, compared to analysts’ expectations of $295.68 million. Encore Wire had a net margin of 6.11% and a return on equity of 11.37%. Encore Wire’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. As a group, equities research analysts predict that Encore Wire Co. will post 3.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 5th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Wednesday, July 3rd. Encore Wire’s payout ratio is currently 2.14%.

WIRE has been the topic of a number of research reports. Zacks Investment Research raised shares of Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Friday, June 28th. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Finally, Sidoti downgraded shares of Universal Electronics from a “buy” rating to a “neutral” rating in a research report on Monday, June 3rd.

Encore Wire Profile

Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Its products include NM-B cables 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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