PDT Partners LLC Invests $216,000 in Encore Wire Co. (NASDAQ:WIRE)

PDT Partners LLC purchased a new stake in Encore Wire Co. (NASDAQ:WIRE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,219 shares of the electronics maker’s stock, valued at approximately $216,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Cannell Capital LLC lifted its position in Encore Wire by 2.3% during the 1st quarter. Cannell Capital LLC now owns 107,274 shares of the electronics maker’s stock valued at $7,201,000 after purchasing an additional 2,458 shares during the period. Captrust Financial Advisors boosted its stake in Encore Wire by 3,691.1% in the first quarter. Captrust Financial Advisors now owns 1,706 shares of the electronics maker’s stock valued at $115,000 after acquiring an additional 1,661 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in Encore Wire by 52.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 495,338 shares of the electronics maker’s stock worth $33,252,000 after acquiring an additional 170,342 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Encore Wire by 26.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,643 shares of the electronics maker’s stock valued at $110,000 after purchasing an additional 348 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Encore Wire during the first quarter worth $204,000. Hedge funds and other institutional investors own 88.73% of the company’s stock.

Shares of NASDAQ WIRE opened at $69.24 on Thursday. Encore Wire Co. has a twelve month low of $45.32 and a twelve month high of $84.01. The company has a market capitalization of $1.43 billion, a PE ratio of 14.49 and a beta of 1.13. The stock’s fifty day moving average price is $77.55.

Encore Wire (NASDAQ:WIRE) last posted its earnings results on Sunday, April 25th. The electronics maker reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $1.11. Encore Wire had a return on equity of 11.88% and a net margin of 6.96%. The firm had revenue of $444.10 million for the quarter, compared to analyst estimates of $384.57 million. During the same period in the previous year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was up 46.6% on a year-over-year basis. Research analysts expect that Encore Wire Co. will post 5.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 16th. Stockholders of record on Friday, July 2nd were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Thursday, July 1st. Encore Wire’s dividend payout ratio (DPR) is presently 2.17%.

Separately, Zacks Investment Research lowered Encore Wire from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 30th.

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

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