United Services Automobile Association Sells 951 Shares of Encore Wire Co. (NASDAQ:WIRE)

United Services Automobile Association lessened its stake in shares of Encore Wire Co. (NASDAQ:WIRE) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 83,300 shares of the electronics maker’s stock after selling 951 shares during the period. United Services Automobile Association’s holdings in Encore Wire were worth $4,880,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc. raised its stake in shares of Encore Wire by 100.0% during the second quarter. TD Asset Management Inc. now owns 18,800 shares of the electronics maker’s stock valued at $1,101,000 after acquiring an additional 9,400 shares in the last quarter. GYL Financial Synergies LLC bought a new stake in shares of Encore Wire during the first quarter valued at approximately $647,000. Wells Fargo & Company MN raised its stake in shares of Encore Wire by 53.0% during the second quarter. Wells Fargo & Company MN now owns 189,326 shares of the electronics maker’s stock valued at $11,091,000 after acquiring an additional 65,589 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Encore Wire by 3.8% during the first quarter. Great West Life Assurance Co. Can now owns 27,708 shares of the electronics maker’s stock valued at $1,585,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of Encore Wire by 523.5% during the second quarter. Strs Ohio now owns 10,600 shares of the electronics maker’s stock valued at $620,000 after acquiring an additional 8,900 shares in the last quarter. 88.91% of the stock is owned by hedge funds and other institutional investors.

Shares of WIRE stock opened at $55.97 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.65 and a beta of 1.48. The company’s 50 day moving average is $55.43 and its 200 day moving average is $55.80. Encore Wire Co. has a 52-week low of $40.96 and a 52-week high of $61.68.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.03). The business had revenue of $336.87 million for the quarter, compared to analysts’ expectations of $330.42 million. Encore Wire had a net margin of 6.09% and a return on equity of 11.01%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. On average, analysts anticipate that Encore Wire Co. will post 3.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, October 4th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, October 3rd. Encore Wire’s payout ratio is 2.14%.

In related news, insider Matthew D. Ford sold 3,000 shares of Encore Wire stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $60.00, for a total transaction of $180,000.00. Following the transaction, the insider now directly owns 14,500 shares of the company’s stock, valued at $870,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.99% of the company’s stock.

Several equities analysts recently issued reports on WIRE shares. Zacks Investment Research reissued a “hold” rating on shares of Encore Wire in a report on Saturday, September 28th. ValuEngine lowered shares of Encore Wire from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub lowered shares of Encore Wire from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $62.00.

Encore Wire Company 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.

Read More: Market Capitalization and Individual Investors

Want to see what other hedge funds are holding WIRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Encore Wire Co. (NASDAQ:WIRE).

Institutional Ownership by Quarter for Encore Wire (NASDAQ:WIRE)

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