Encore Wire Corporation (WIRE) Shares Bought by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA lifted its stake in Encore Wire Corporation (NASDAQ:WIRE) by 62.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,835 shares of the electronics maker’s stock after purchasing an additional 2,634 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Encore Wire Corporation were worth $292,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc raised its position in shares of Encore Wire Corporation by 15.4% in the 2nd quarter. Legal & General Group Plc now owns 39,718 shares of the electronics maker’s stock valued at $1,696,000 after purchasing an additional 5,298 shares during the last quarter. Rhumbline Advisers raised its position in shares of Encore Wire Corporation by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 47,630 shares of the electronics maker’s stock valued at $2,034,000 after purchasing an additional 381 shares during the last quarter. Foundry Partners LLC raised its position in shares of Encore Wire Corporation by 34.1% in the 2nd quarter. Foundry Partners LLC now owns 11,605 shares of the electronics maker’s stock valued at $496,000 after purchasing an additional 2,950 shares during the last quarter. Granite Investment Partners LLC raised its position in shares of Encore Wire Corporation by 2.6% in the 2nd quarter. Granite Investment Partners LLC now owns 274,096 shares of the electronics maker’s stock valued at $11,704,000 after purchasing an additional 6,935 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Encore Wire Corporation by 4.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 175,737 shares of the electronics maker’s stock valued at $7,504,000 after purchasing an additional 7,726 shares during the last quarter. 89.13% of the stock is owned by hedge funds and other institutional investors.

Encore Wire Corporation (NASDAQ WIRE) opened at 45.45 on Wednesday. Encore Wire Corporation has a 12 month low of $33.70 and a 12 month high of $49.75. The stock has a market capitalization of $943.41 million, a price-to-earnings ratio of 22.50 and a beta of 2.24. The company has a 50 day moving average of $41.01 and a 200 day moving average of $42.95.

Encore Wire Corporation (NASDAQ:WIRE) last announced its quarterly earnings results on Tuesday, August 1st. The electronics maker reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.06). The business had revenue of $291.50 million during the quarter, compared to analyst estimates of $282.25 million. Encore Wire Corporation had a net margin of 4.01% and a return on equity of 7.42%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. On average, equities analysts predict that Encore Wire Corporation will post $2.20 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, October 5th. Encore Wire Corporation’s dividend payout ratio (DPR) is 3.98%.

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Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Encore Wire Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub lowered shares of Encore Wire Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Finally, TheStreet lowered shares of Encore Wire Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 4th.

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

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