Foundry Partners LLC reduced its stake in Encore Wire Corporation (NASDAQ:WIRE) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,005 shares of the electronics maker’s stock after selling 1,600 shares during the period. Foundry Partners LLC’s holdings in Encore Wire Corporation were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of Encore Wire Corporation by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 4,096 shares of the electronics maker’s stock valued at $174,000 after buying an additional 1,806 shares during the period. KCG Holdings Inc. bought a new stake in shares of Encore Wire Corporation in the first quarter valued at approximately $269,000. Crossmark Global Holdings Inc. bought a new stake in shares of Encore Wire Corporation in the third quarter valued at approximately $273,000. Aperio Group LLC boosted its stake in shares of Encore Wire Corporation by 25.2% in the second quarter. Aperio Group LLC now owns 6,259 shares of the electronics maker’s stock valued at $267,000 after buying an additional 1,260 shares during the period. Finally, Suntrust Banks Inc. boosted its stake in shares of Encore Wire Corporation by 1.6% in the second quarter. Suntrust Banks Inc. now owns 6,781 shares of the electronics maker’s stock valued at $289,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

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Several brokerages have commented on WIRE. Sidoti began coverage on shares of Encore Wire Corporation in a research report on Thursday, October 19th. They set a “neutral” rating for the company. TheStreet upgraded shares of Encore Wire Corporation from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Zacks Investment Research upgraded shares of Encore Wire Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, BidaskClub downgraded shares of Encore Wire Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

Encore Wire Corporation (NASDAQ:WIRE) opened at $44.30 on Wednesday. The stock has a market cap of $945.01, a price-to-earnings ratio of 19.00, a PEG ratio of 1.96 and a beta of 2.32. Encore Wire Corporation has a 1-year low of $35.10 and a 1-year high of $49.75.

Encore Wire Corporation (NASDAQ:WIRE) last posted its quarterly earnings data on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.12. The business had revenue of $292.00 million during the quarter, compared to the consensus estimate of $279.60 million. Encore Wire Corporation had a return on equity of 8.42% and a net margin of 4.53%. Encore Wire Corporation’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 earnings per share. equities research analysts expect that Encore Wire Corporation will post 2.32 EPS for the current fiscal year.

In related news, VP Frank J. Bilban sold 4,136 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $47.50, for a total value of $196,460.00. Following the completion of the sale, the vice president now directly owns 61,150 shares in the company, valued at $2,904,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.79% of the company’s stock.

Encore Wire Corporation 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 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.

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

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