Skandinaviska Enskilda Banken AB publ reduced its stake in Encore Wire Co. (NASDAQ:WIRE – Free Report) by 35.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,200 shares of the electronics maker’s stock after selling 40,800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Encore Wire were worth $13,356,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of WIRE. Envestnet Asset Management Inc. grew its position in Encore Wire by 1,243.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 618,565 shares of the electronics maker’s stock valued at $7,788,000 after acquiring an additional 572,539 shares in the last quarter. LSV Asset Management grew its position in Encore Wire by 125.0% in the 2nd quarter. LSV Asset Management now owns 472,766 shares of the electronics maker’s stock valued at $87,901,000 after acquiring an additional 262,652 shares in the last quarter. Norges Bank acquired a new position in Encore Wire in the 4th quarter valued at about $25,846,000. Seizert Capital Partners LLC acquired a new position in Encore Wire in the 3rd quarter valued at about $24,143,000. Finally, Millennium Management LLC grew its position in Encore Wire by 364.9% in the 4th quarter. Millennium Management LLC now owns 150,871 shares of the electronics maker’s stock valued at $20,754,000 after acquiring an additional 118,416 shares in the last quarter. 99.82% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Encore Wire from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd.
Encore Wire Stock Performance
Shares of Encore Wire stock opened at $244.31 on Friday. Encore Wire Co. has a one year low of $138.20 and a one year high of $246.58. The company has a market cap of $3.86 billion, a PE ratio of 9.54 and a beta of 1.31. The business has a 50-day simple moving average of $214.28 and a 200-day simple moving average of $189.35.
Encore Wire Profile
Encore Wire Corporation engages in manufacture and sale of electrical building wires and cables in the United States. The company 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.
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