B. Riley Wealth Advisors Inc. Has $3.96 Million Position in Encore Wire Co. (NASDAQ:WIRE)

B. Riley Wealth Advisors Inc. grew its holdings in Encore Wire Co. (NASDAQ:WIRE) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,084 shares of the electronics maker’s stock after buying an additional 840 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Encore Wire were worth $3,964,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WIRE. Spire Wealth Management increased its position in Encore Wire by 42.0% in the first quarter. Spire Wealth Management now owns 142 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 42 shares during the period. Blue Trust Inc. raised its position in shares of Encore Wire by 69.2% during the 4th quarter. Blue Trust Inc. now owns 203 shares of the electronics maker’s stock valued at $43,000 after acquiring an additional 83 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Encore Wire in the 4th quarter valued at $80,000. Banque Cantonale Vaudoise boosted its position in shares of Encore Wire by 10.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 414 shares of the electronics maker’s stock worth $109,000 after purchasing an additional 40 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Encore Wire during the fourth quarter worth $99,000. Institutional investors and hedge funds own 99.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Sidoti reissued a “neutral” rating and set a $290.00 price objective on shares of Encore Wire in a research note on Tuesday, April 16th. StockNews.com initiated coverage on Encore Wire in a research note on Tuesday. They set a “hold” rating on the stock. DA Davidson cut Encore Wire from a “buy” rating to a “neutral” rating and set a $295.00 target price for the company. in a research note on Tuesday, April 16th. Finally, CJS Securities restated a “market perform” rating on shares of Encore Wire in a report on Friday, April 19th.

Encore Wire Stock Performance

Encore Wire stock remained flat at $289.84 during trading hours on Wednesday. 266 shares of the company’s stock traded hands, compared to its average volume of 318,575. Encore Wire Co. has a 52-week low of $150.51 and a 52-week high of $295.90. The business’s 50 day moving average is $288.29 and its 200-day moving average is $262.67. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 15.38 and a beta of 1.19.

Encore Wire Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a $0.02 dividend. The ex-dividend date was Friday, July 5th. This represents a $0.08 annualized dividend and a yield of 0.03%. Encore Wire’s dividend payout ratio (DPR) is presently 0.42%.

About Encore Wire

Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. It offers NM-B cables, UF-B cables, THHN/THWN-2, XHHW-2, USE-2, RHH/RHW-2, and other types of wire products, including SEU, SER, photovoltaic, URD, tray cables, metal-clads, and armored cables.