Bank of New York Mellon Corp lowered its position in shares of Encore Wire Co. (NASDAQ:WIRE – Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212,488 shares of the electronics maker’s stock after selling 11,955 shares during the period. Bank of New York Mellon Corp owned about 1.21% of Encore Wire worth $39,380,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Encore Wire by 41.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 242 shares of the electronics maker’s stock worth $33,000 after buying an additional 71 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Encore Wire by 33.8% during the first quarter. Federated Hermes Inc. now owns 368 shares of the electronics maker’s stock worth $68,000 after buying an additional 93 shares during the last quarter. Clearstead Advisors LLC purchased a new position in shares of Encore Wire during the first quarter worth about $75,000. Fortis Capital Advisors LLC purchased a new position in shares of Encore Wire during the fourth quarter worth about $121,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of Encore Wire during the fourth quarter worth about $139,000. Hedge funds and other institutional investors own 99.82% of the company’s stock.
Encore Wire Trading Up 2.0 %
Shares of WIRE opened at $162.71 on Thursday. Encore Wire Co. has a twelve month low of $108.53 and a twelve month high of $206.74. The stock’s 50 day moving average is $171.42 and its two-hundred day moving average is $173.19. The firm has a market capitalization of $2.74 billion, a PE ratio of 5.29 and a beta of 1.33.
Encore Wire Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, October 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.05%. Encore Wire’s payout ratio is 0.26%.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on WIRE shares. StockNews.com started coverage on Encore Wire in a report on Thursday, August 17th. They set a “hold” rating on the stock. DA Davidson lowered their price objective on Encore Wire from $250.00 to $240.00 in a report on Thursday, July 27th.
View Our Latest Stock Report on Encore Wire
About Encore Wire
Encore Wire Corp. engages in manufacturing copper electrical building wire and cable. It supplies building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments and manufactured housing. The company was founded by Vincent A. Rego in 1989 and is headquartered in McKinney, TX.
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