Frank J. Bilban Sells 4,136 Shares of Encore Wire Corporation (WIRE) Stock
Encore Wire Corporation (NASDAQ:WIRE) VP Frank J. Bilban sold 4,136 shares of Encore Wire Corporation stock in a transaction dated 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 transaction, the vice president now owns 61,150 shares in the company, valued at approximately $2,904,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Encore Wire Corporation (NASDAQ WIRE) traded up $0.20 during trading on Friday, reaching $45.55. The company’s stock had a trading volume of 70,046 shares, compared to its average volume of 84,478. The firm has a market capitalization of $967.91, a P/E ratio of 19.46 and a beta of 2.32.
Encore Wire Corporation (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, October 31st. The electronics maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. Encore Wire Corporation had a return on equity of 8.42% and a net margin of 4.53%. The firm had revenue of $292.00 million for the quarter, compared to analysts’ expectations of $279.60 million. During the same period in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. sell-side analysts forecast that Encore Wire Corporation will post 1.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 6th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.18%. Encore Wire Corporation’s dividend payout ratio is currently 3.35%.
TRADEMARK VIOLATION WARNING: “Frank J. Bilban Sells 4,136 Shares of Encore Wire Corporation (WIRE) Stock” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/11/03/frank-j-bilban-sells-4136-shares-of-encore-wire-corporation-wire-stock.html.
Institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. boosted its position in shares of Encore Wire Corporation by 80.9% in the 2nd quarter. Prudential Financial Inc. now owns 71,870 shares of the electronics maker’s stock worth $3,069,000 after purchasing an additional 32,140 shares in the last quarter. Heartland Advisors Inc. raised its holdings in Encore Wire Corporation by 9.3% in the 2nd quarter. Heartland Advisors Inc. now owns 293,597 shares of the electronics maker’s stock worth $12,537,000 after acquiring an additional 25,000 shares during the last quarter. Teachers Advisors LLC raised its holdings in Encore Wire Corporation by 5.3% in the 1st quarter. Teachers Advisors LLC now owns 271,498 shares of the electronics maker’s stock worth $12,489,000 after acquiring an additional 13,669 shares during the last quarter. BlackRock Inc. raised its holdings in Encore Wire Corporation by 52,370.3% in the 1st quarter. BlackRock Inc. now owns 2,531,167 shares of the electronics maker’s stock worth $116,433,000 after acquiring an additional 2,526,343 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Encore Wire Corporation by 4.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 175,737 shares of the electronics maker’s stock worth $7,504,000 after acquiring an additional 7,726 shares during the last quarter. 89.09% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on WIRE shares. Zacks Investment Research cut Encore Wire Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Sidoti started coverage on Encore Wire Corporation in a research note on Thursday, October 19th. They issued a “neutral” rating on the stock. BidaskClub cut Encore Wire Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, TheStreet cut Encore Wire Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 4th.
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.
Receive News & Ratings for Encore Wire Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Wire Corporation and related companies with MarketBeat.com's FREE daily email newsletter.