Chatham Capital Group Inc. Sells 212 Shares of Encore Wire Co. (NASDAQ:WIRE)

Chatham Capital Group Inc. lessened its stake in shares of Encore Wire Co. (NASDAQ:WIRE) by 0.8% in the third quarter, Holdings Channel reports. The institutional investor owned 26,700 shares of the electronics maker’s stock after selling 212 shares during the period. Chatham Capital Group Inc.’s holdings in Encore Wire were worth $2,528,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WIRE. Captrust Financial Advisors increased its holdings in shares of Encore Wire by 3,691.1% in the 1st quarter. Captrust Financial Advisors now owns 1,706 shares of the electronics maker’s stock worth $115,000 after purchasing an additional 1,661 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Encore Wire in the second quarter valued at about $207,000. Cim Investment Mangement Inc. bought a new stake in shares of Encore Wire in the first quarter worth about $212,000. Mercer Global Advisors Inc. ADV bought a new stake in Encore Wire during the second quarter worth approximately $212,000. Finally, Profund Advisors LLC bought a new stake in Encore Wire during the second quarter worth approximately $212,000. 87.81% of the stock is owned by institutional investors.

Encore Wire stock traded up $4.13 during trading on Monday, hitting $148.83. The company had a trading volume of 208 shares, compared to its average volume of 141,614. Encore Wire Co. has a 1-year low of $51.36 and a 1-year high of $148.44. The company’s 50 day simple moving average is $114.00 and its 200-day simple moving average is $91.93. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 7.06 and a beta of 1.19.

Encore Wire (NASDAQ:WIRE) last posted its earnings results on Tuesday, October 26th. The electronics maker reported $8.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $5.59. Encore Wire had a net margin of 18.55% and a return on equity of 42.52%. The firm had revenue of $716.32 million during the quarter, compared to the consensus estimate of $587.34 million. During the same quarter last year, the firm earned $1.02 EPS. The firm’s revenue for the quarter was up 110.9% on a year-over-year basis. On average, equities analysts anticipate that Encore Wire Co. will post 21.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 21st. Investors of record on Friday, January 7th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, January 6th. This represents a $0.08 annualized dividend and a yield of 0.05%. Encore Wire’s dividend payout ratio (DPR) is presently 0.39%.

A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Encore Wire from a “hold” rating to a “strong-buy” rating and set a $151.00 price target for the company in a report on Saturday, October 30th. DA Davidson increased their target price on shares of Encore Wire from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 28th.

Encore Wire Profile

Encore Wire Corp. engages in manufacturing copper electrical building wire and cable. The firm is a significant supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments and manufactured housing. It offers an electric building wire product line that consists primarily of NM-B cable, UF-B cable, THHN/THWN-2 and other types of wire products, including Metal Clad, Armored Cable, Photovoltaic Cable and Bare Copper.

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

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