Oakworth Capital Inc. Purchases 2,183 Shares of Encore Wire Co. (NASDAQ:WIRE)

Oakworth Capital Inc. lifted its position in Encore Wire Co. (NASDAQ:WIRE) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,879 shares of the electronics maker’s stock after buying an additional 2,183 shares during the period. Encore Wire comprises 1.1% of Oakworth Capital Inc.’s holdings, making the stock its 22nd largest position. Oakworth Capital Inc. owned 0.42% of Encore Wire worth $14,285,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in Encore Wire by 69.2% during the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock worth $43,000 after purchasing an additional 83 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Encore Wire during the 1st quarter worth about $66,000. IFP Advisors Inc increased its holdings in Encore Wire by 231.5% during the 2nd quarter. IFP Advisors Inc now owns 358 shares of the electronics maker’s stock worth $67,000 after purchasing an additional 250 shares in the last quarter. Beaird Harris Wealth Management LLC bought a new position in Encore Wire during the 3rd quarter worth about $91,000. Finally, Fortis Capital Advisors LLC bought a new position in Encore Wire during the 4th quarter worth about $121,000. Institutional investors own 99.82% of the company’s stock.

Encore Wire Stock Down 1.1 %

Shares of NASDAQ:WIRE traded down $3.28 during midday trading on Wednesday, reaching $286.42. The company had a trading volume of 743,750 shares, compared to its average volume of 240,431. The business’s 50 day moving average price is $240.49 and its 200 day moving average price is $213.22. The stock has a market cap of $4.52 billion, a PE ratio of 13.52 and a beta of 1.31. Encore Wire Co. has a 1-year low of $138.20 and a 1-year high of $295.90.

Encore Wire (NASDAQ:WIRE) last released its earnings results on Wednesday, February 14th. The electronics maker reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.05. The business had revenue of $633.78 million for the quarter, compared to the consensus estimate of $601.48 million. Encore Wire had a return on equity of 20.92% and a net margin of 14.50%. Encore Wire’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.28 earnings per share. On average, research analysts expect that Encore Wire Co. will post 16.52 earnings per share for the current fiscal year.

Encore Wire Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Investors of record on Friday, April 5th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, April 4th. Encore Wire’s payout ratio is currently 0.37%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WIRE. DA Davidson reiterated a “neutral” rating and set a $295.00 target price on shares of Encore Wire in a report on Tuesday. StockNews.com cut Encore Wire from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Sidoti reaffirmed a “neutral” rating and issued a $290.00 target price on shares of Encore Wire in a research report on Tuesday.

Encore Wire Profile

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. It offers NM-B cables, UF-B cables, THHN/THWN-2, XHHW-2, USE-2, RHH/RHW-2, and other types of wire products, including SEU, SER, photovoltaic, URD, tray cables, metal-clads, and armored cables.