Encore Wire Co. (WIRE) To Go Ex-Dividend on October 6th

Encore Wire Co. (NASDAQ:WIREGet Rating) declared a quarterly dividend on Wednesday, August 3rd, Zacks reports. Investors of record on Friday, October 7th will be paid a dividend of 0.02 per share by the electronics maker on Friday, October 21st. This represents a $0.08 annualized dividend and a yield of 0.07%. The ex-dividend date is Thursday, October 6th.

Encore Wire has a payout ratio of 0.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Encore Wire to earn $14.35 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 0.6%.

Encore Wire Trading Down 0.0 %

WIRE traded down $0.05 during midday trading on Friday, hitting $120.77. The company’s stock had a trading volume of 6,188 shares, compared to its average volume of 319,721. Encore Wire has a 52-week low of $82.00 and a 52-week high of $151.64. The firm has a market cap of $2.31 billion, a P/E ratio of 3.52 and a beta of 1.27. The firm has a 50-day moving average price of $117.01 and a two-hundred day moving average price of $117.06.

Encore Wire (NASDAQ:WIREGet Rating) last released its quarterly earnings results on Monday, July 25th. The electronics maker reported $10.71 EPS for the quarter, topping the consensus estimate of $5.14 by $5.57. Encore Wire had a return on equity of 49.46% and a net margin of 23.24%. The firm had revenue of $838.20 million for the quarter, compared to analyst estimates of $727.08 million. During the same period in the previous year, the company posted $8.82 EPS. Encore Wire’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts expect that Encore Wire will post 26.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WIRE. DA Davidson raised their price target on shares of Encore Wire from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. StockNews.com upgraded shares of Encore Wire from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th.

Hedge Funds Weigh In On Encore Wire

Several hedge funds have recently made changes to their positions in the business. Bank of Montreal Can boosted its holdings in shares of Encore Wire by 1.4% in the first quarter. Bank of Montreal Can now owns 6,158 shares of the electronics maker’s stock worth $755,000 after buying an additional 83 shares during the period. Evergreen Capital Management LLC boosted its holdings in shares of Encore Wire by 5.1% in the first quarter. Evergreen Capital Management LLC now owns 1,925 shares of the electronics maker’s stock worth $220,000 after buying an additional 93 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of Encore Wire by 1.8% in the first quarter. Great West Life Assurance Co. Can now owns 18,120 shares of the electronics maker’s stock worth $2,119,000 after buying an additional 321 shares during the period. Pearl River Capital LLC boosted its holdings in shares of Encore Wire by 13.1% in the first quarter. Pearl River Capital LLC now owns 2,960 shares of the electronics maker’s stock worth $338,000 after buying an additional 343 shares during the period. Finally, Quantamental Technologies LLC boosted its holdings in shares of Encore Wire by 18.5% in the first quarter. Quantamental Technologies LLC now owns 3,191 shares of the electronics maker’s stock worth $364,000 after buying an additional 498 shares during the period. Institutional investors and hedge funds own 90.89% of the company’s stock.

About Encore Wire

(Get Rating)

Encore Wire Corporation manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. The company's products include NM-B cables for use as interior wiring in homes, apartments, and manufactured housing; THHN/THWN-2 cables and metal-clad and armored cables for use as wiring in commercial and industrial buildings; UF-B cables; XHHW-2 cables; RHH/RHW-2 cables; USE-2 cables; and other types of wire products.

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Dividend History for Encore Wire (NASDAQ:WIRE)

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