Millington Financial Advisors LLC Decreases Position in Encore Wire Co. (NASDAQ:WIRE)

Millington Financial Advisors LLC decreased its position in shares of Encore Wire Co. (NASDAQ:WIRE) by 5.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,307 shares of the electronics maker’s stock after selling 493 shares during the quarter. Encore Wire comprises 1.4% of Millington Financial Advisors LLC’s holdings, making the stock its 17th biggest position. Millington Financial Advisors LLC’s holdings in Encore Wire were worth $1,774,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in shares of Encore Wire by 260.9% in the third quarter. SG Americas Securities LLC now owns 5,633 shares of the electronics maker’s stock valued at $1,028,000 after purchasing an additional 4,072 shares during the period. Guidance Capital Inc. acquired a new position in shares of Encore Wire in the third quarter valued at approximately $257,000. Handelsbanken Fonder AB grew its holdings in Encore Wire by 31.1% during the third quarter. Handelsbanken Fonder AB now owns 4,637 shares of the electronics maker’s stock worth $846,000 after acquiring an additional 1,100 shares during the period. Hunter Perkins Capital Management LLC grew its holdings in Encore Wire by 104.0% during the third quarter. Hunter Perkins Capital Management LLC now owns 19,719 shares of the electronics maker’s stock worth $3,598,000 after acquiring an additional 10,055 shares during the period. Finally, Security National Bank grew its holdings in Encore Wire by 2.1% during the third quarter. Security National Bank now owns 14,377 shares of the electronics maker’s stock worth $2,655,000 after acquiring an additional 289 shares during the period. Institutional investors and hedge funds own 99.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price objective on the stock. in a report on Tuesday, April 16th. StockNews.com lowered Encore Wire from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Sidoti reiterated a “neutral” rating and issued a $290.00 target price on shares of Encore Wire in a research note on Tuesday, April 16th. Finally, CJS Securities restated a “market perform” rating on shares of Encore Wire in a research note on Friday.

Encore Wire Stock Performance

Shares of NASDAQ:WIRE traded up $0.51 during midday trading on Tuesday, hitting $283.60. 339,454 shares of the company’s stock traded hands, compared to its average volume of 261,762. Encore Wire Co. has a twelve month low of $138.20 and a twelve month high of $295.90. The company has a market cap of $4.48 billion, a PE ratio of 13.21 and a beta of 1.31. The firm’s fifty day moving average price is $245.50 and its two-hundred day moving average price is $217.02.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings data on Wednesday, February 14th. The electronics maker reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.05. Encore Wire had a net margin of 14.50% and a return on equity of 20.92%. The firm had revenue of $633.78 million for the quarter, compared to analyst estimates of $601.48 million. During the same quarter in the previous year, the business posted $8.28 EPS. The firm’s revenue was down 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Encore Wire Co. will post 21.23 EPS for the current fiscal year.

Encore Wire Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 5th were 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 was Thursday, April 4th. Encore Wire’s dividend payout ratio is presently 0.37%.

About Encore Wire

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.