Schwab Charles Investment Management Inc. Acquires 15,764 Shares of Encore Wire Corporation (WIRE)

Schwab Charles Investment Management Inc. raised its position in Encore Wire Corporation (NASDAQ:WIRE) by 10.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 168,011 shares of the electronics maker’s stock after buying an additional 15,764 shares during the period. Schwab Charles Investment Management Inc. owned about 0.81% of Encore Wire Corporation worth $7,729,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. LSV Asset Management acquired a new stake in Encore Wire Corporation during the first quarter worth $101,000. State of Alaska Department of Revenue increased its stake in Encore Wire Corporation by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 2,290 shares of the electronics maker’s stock worth $105,000 after buying an additional 50 shares during the period. BNP Paribas Arbitrage SA increased its stake in Encore Wire Corporation by 3.5% in the first quarter. BNP Paribas Arbitrage SA now owns 4,201 shares of the electronics maker’s stock worth $193,000 after buying an additional 143 shares during the period. Trexquant Investment LP acquired a new stake in Encore Wire Corporation during the first quarter worth $213,000. Finally, Mason Street Advisors LLC increased its stake in Encore Wire Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 4,849 shares of the electronics maker’s stock worth $223,000 after buying an additional 320 shares during the period. 90.55% of the stock is owned by institutional investors and hedge funds.

Shares of Encore Wire Corporation (NASDAQ WIRE) opened at 44.70 on Monday. The company has a market capitalization of $927.44 million, a P/E ratio of 23.90 and a beta of 2.23. Encore Wire Corporation has a 1-year low of $33.70 and a 1-year high of $49.75. The company’s 50 day moving average is $43.00 and its 200-day moving average is $43.73.

Encore Wire Corporation (NASDAQ:WIRE) last posted its earnings results on Tuesday, May 2nd. The electronics maker reported $0.65 EPS for the quarter, topping the consensus estimate of $0.51 by $0.14. Encore Wire Corporation had a net margin of 3.91% and a return on equity of 7.01%. The business had revenue of $279.39 million for the quarter, compared to the consensus estimate of $280 million. On average, equities research analysts forecast that Encore Wire Corporation will post $2.30 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, July 5th. This represents a $0.08 annualized dividend and a yield of 0.18%. Encore Wire Corporation’s dividend payout ratio is presently 4.28%.

Separately, Zacks Investment Research downgraded shares of Encore Wire Corporation from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, April 26th.

About Encore Wire Corporation

Encore Wire Corporation is a manufacturer of electrical building wire and cable. The Company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. The Company manufactures electric building wire, principally NM-B cable, for use primarily as interior wiring in homes, apartments and manufactured housing, and THHN/THWN-2 cable and metal-clad and armored cable for use primarily as wiring in commercial and industrial buildings.

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