As marketbeat tells MHProNews, Zacks Investment Research changed the stock on Encore Wire Co. (NASDAQ:WIRE) from a buy rating to a hold in a report published Wed., Feb 10. Encore is a manufacturer of copper electrical building wire and cable, and is a significant supplier to the manufactured housing industry.
Company wire is also used in apartments, site-built homes, and in commercial and industrial buildings.
The stock has a one-year high of $48.50 and a one-year low of $30.23, with a market cap of $719. million and a P/E ratio of 17.40. In today’s trading, Feb. 19, Encore closed up +5.57 percent, +1.86 points at $35.26.
Separately, First Dallas Securities increased its position in Encore by 26 percent in Q4, 2015 and now owns 13,551 shares of the company’s stock with a value of $502,000. Evercore Trust Co. raised its stake in Encore to about $730,000, while GSA Capital Partners LLP now owns 27,694 shares of the company’s stock worth $1,027,000.
Rhumbline Advisers owns 34,206 shares of Encore stock valued at $1,262,000, while the California State Teachers Retirement System owns 38,415 shares of Encore stock valued at $1,425,000. ##
(Image credit:Encore Wire Corp.)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.