Today: Today, Louisiana State Employees Retirement System decides to keep it stake in Encore Wire Corp. (WIRE) to the level of $335,000

Today, Louisiana State Employees Retirement System decides to keep it stake in Encore Wire Corp. (WIRE) to the level of $335,000

Louisiana State Employees Retirement System lowered its position in Encore Wire Corp. (NASDAQ:WIRE) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,100 shares of the company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Encore Wire Corp. were worth $335,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of Encore Wire Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 2,746 shares of the company’s stock worth $102,000 after buying an additional 334 shares during the last quarter. Mason Street Advisors LLC bought a new stake in shares of Encore Wire Corp. during the second quarter worth approximately $151,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Encore Wire Corp. during the second quarter worth approximately $191,000. BlackRock Inc. raised its stake in shares of Encore Wire Corp. by 281.3% in the second quarter. BlackRock Inc. now owns 5,170 shares of the company’s stock worth $192,000 after buying an additional 3,814 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in shares of Encore Wire Corp. by 6.2% in the second quarter. Guggenheim Capital LLC now owns 6,049 shares of the company’s stock worth $225,000 after buying an additional 354 shares during the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.

Shares of Encore Wire Corp. (NASDAQ:WIRE) traded up 3.08% during midday trading on Friday, reaching $43.50. 50,554 shares of the company’s stock traded hands. Encore Wire Corp. has a 52-week low of $32.96 and a 52-week high of $44.58. The firm has a market cap of $901.49 million, a PE ratio of 27.02 and a beta of 1.95. The company has a 50 day moving average of $37.23 and a 200 day moving average of $37.90.

Encore Wire Corp. (NASDAQ:WIRE) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.27. The company earned $237.20 million during the quarter, compared to the consensus estimate of $266.63 million. Encore Wire Corp. had a net margin of 3.51% and a return on equity of 6.25%. The business’s revenue was down 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. On average, equities analysts predict that Encore Wire Corp. will post $1.43 EPS for the current fiscal year.

WIRE has been the topic of a number of research analyst reports. DA Davidson restated a “hold” rating on shares of Encore Wire Corp. in a report on Monday, September 19th. Zacks Investment Research lowered shares of Encore Wire Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 3rd.

Encore Wire Corp. Company Profile

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 operates in the manufacture of 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 segment.

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