Metropolitan Life Insurance Co. NY Continues to Hold Stake in Encore Wire Co. (WIRE)

Metropolitan Life Insurance Co. NY maintained its position in Encore Wire Co. (NASDAQ:WIRE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,860 shares of the electronics maker’s stock at the end of the fourth quarter. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Encore Wire worth $644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Fund Advisors boosted its position in Encore Wire by 8.4% in the third quarter. BlackRock Fund Advisors now owns 1,445,749 shares of the electronics maker’s stock worth $53,160,000 after buying an additional 112,628 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Encore Wire by 6.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,036,362 shares of the electronics maker’s stock valued at $44,926,000 after buying an additional 66,525 shares during the last quarter. Perkins Investment Management LLC boosted its position in shares of Encore Wire by 48.4% in the third quarter. Perkins Investment Management LLC now owns 587,077 shares of the electronics maker’s stock valued at $21,587,000 after buying an additional 191,471 shares during the last quarter. State Street Corp boosted its position in shares of Encore Wire by 9.3% in the fourth quarter. State Street Corp now owns 450,053 shares of the electronics maker’s stock valued at $19,507,000 after buying an additional 38,403 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Encore Wire by 4.7% in the third quarter. Ameriprise Financial Inc. now owns 359,664 shares of the electronics maker’s stock valued at $13,225,000 after buying an additional 16,124 shares during the last quarter. Hedge funds and other institutional investors own 88.46% of the company’s stock.

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

Encore Wire Co. (NASDAQ:WIRE) traded up 0.83% during mid-day trading on Thursday, hitting $42.50. 31,497 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $45.41 and its 200-day moving average price is $42.38. Encore Wire Co. has a one year low of $33.70 and a one year high of $49.75. The stock has a market cap of $881.28 million, a PE ratio of 26.07 and a beta of 2.04.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 21st. Stockholders of record on Friday, April 7th will be given a $0.02 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $0.08 annualized dividend and a dividend yield of 0.19%. Encore Wire’s payout ratio is 4.97%.

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WIRE has been the topic of several recent research reports. TheStreet upgraded shares of Encore Wire from a “c+” rating to a “b” rating in a report on Monday, February 27th. Zacks Investment Research upgraded shares of Encore Wire from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 28th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $49.33.

In other news, VP Frank J. Bilban sold 27,500 shares of Encore Wire stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $48.59, for a total value of $1,336,225.00. Following the completion of the transaction, the vice president now owns 81,250 shares in the company, valued at approximately $3,947,937.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.80% of the stock is currently owned by company insiders.

About Encore Wire

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.

5 Day Chart for NASDAQ:WIRE

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