LSV Asset Management Has $121.20 Million Stock Holdings in Encore Wire Co. (NASDAQ:WIRE)

LSV Asset Management lowered its position in Encore Wire Co. (NASDAQ:WIRE) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 567,430 shares of the electronics maker’s stock after selling 7,398 shares during the period. LSV Asset Management’s holdings in Encore Wire were worth $121,203,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Encore Wire by 15.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 15,258 shares of the electronics maker’s stock valued at $2,784,000 after buying an additional 2,050 shares during the last quarter. Raymond James & Associates increased its holdings in Encore Wire by 6.7% during the 3rd quarter. Raymond James & Associates now owns 26,128 shares of the electronics maker’s stock worth $4,767,000 after purchasing an additional 1,636 shares in the last quarter. Shariaportfolio Inc. purchased a new stake in shares of Encore Wire in the third quarter worth approximately $1,878,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Encore Wire by 14.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,842 shares of the electronics maker’s stock worth $519,000 after purchasing an additional 359 shares during the last quarter. Finally, Freedom Day Solutions LLC bought a new position in shares of Encore Wire in the third quarter valued at approximately $1,420,000. Institutional investors and hedge funds own 99.82% of the company’s stock.

Encore Wire Stock Performance

NASDAQ WIRE traded up $2.22 during trading hours on Friday, hitting $283.04. The company had a trading volume of 170,093 shares, compared to its average volume of 517,812. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 15.02 and a beta of 1.28. Encore Wire Co. has a 52 week low of $150.51 and a 52 week high of $295.90. The firm has a 50 day simple moving average of $255.62 and a 200 day simple moving average of $222.66.

Encore Wire (NASDAQ:WIRE) last posted its quarterly earnings data on Tuesday, April 23rd. The electronics maker reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.65 by $0.27. The company had revenue of $632.66 million during the quarter, compared to analyst estimates of $579.64 million. Encore Wire had a return on equity of 17.77% and a net margin of 12.45%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $6.50 earnings per share. On average, research analysts forecast that Encore Wire Co. will post 21.24 earnings per share for the current year.

Encore Wire Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 5th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, April 4th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.03%. Encore Wire’s dividend payout ratio is 0.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. DA Davidson downgraded Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target for the company. in a report on Tuesday, April 16th. Sidoti reissued a “neutral” rating and set a $290.00 price target on shares of Encore Wire in a research report on Tuesday, April 16th. CJS Securities reaffirmed a “market perform” rating on shares of Encore Wire in a research report on Friday, April 19th. Finally, StockNews.com assumed coverage on shares of Encore Wire in a research report on Friday. They set a “hold” rating on the stock.

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.