Security National Bank Buys 194 Shares of Encore Wire Co. (NASDAQ:WIRE)

Security National Bank boosted its stake in shares of Encore Wire Co. (NASDAQ:WIRE) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,444 shares of the electronics maker’s stock after acquiring an additional 194 shares during the quarter. Security National Bank owned about 0.09% of Encore Wire worth $3,796,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in Encore Wire by 69.2% during the fourth quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock worth $43,000 after buying an additional 83 shares during the period. Quest Partners LLC acquired a new stake in Encore Wire during the 4th quarter worth about $80,000. Banque Cantonale Vaudoise boosted its stake in shares of Encore Wire by 10.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 414 shares of the electronics maker’s stock worth $109,000 after acquiring an additional 40 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Encore Wire during the 4th quarter worth $99,000. Finally, Beaird Harris Wealth Management LLC acquired a new stake in Encore Wire during the 3rd quarter worth $91,000. 99.82% of the stock is owned by institutional investors.

Encore Wire Price Performance

Shares of Encore Wire stock traded up $0.09 on Wednesday, reaching $289.73. 371,574 shares of the company were exchanged, compared to its average volume of 297,799. Encore Wire Co. has a 1-year low of $150.51 and a 1-year high of $295.90. The company has a market cap of $4.58 billion, a P/E ratio of 15.36 and a beta of 1.23. The stock’s 50 day moving average price is $284.46 and its 200-day moving average price is $249.06.

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

Encore Wire Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Friday, July 5th. Encore Wire’s payout ratio is currently 0.42%.

Wall Street Analysts Forecast Growth

WIRE has been the topic of several analyst reports. Sidoti reiterated a “neutral” rating and set a $290.00 price target on shares of Encore Wire in a report on Tuesday, April 16th. StockNews.com initiated coverage on Encore Wire in a report on Thursday, June 20th. They set a “hold” rating on the stock. CJS Securities reiterated a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th. Finally, DA Davidson lowered Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 price target on the stock. in a report on Tuesday, April 16th.

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.