Encore Wire Co. (WIRE) VP Frank J. Bilban Sells 9,814 Shares
Encore Wire Co. (NASDAQ:WIRE) VP Frank J. Bilban sold 9,814 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $48.30, for a total value of $474,016.20. Following the completion of the sale, the vice president now directly owns 56,934 shares in the company, valued at approximately $2,749,912.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Encore Wire Co. (WIRE) traded up $1.90 during trading on Wednesday, hitting $48.50. The company had a trading volume of 181,339 shares, compared to its average volume of 77,852. The company has a market cap of $978.32, a P/E ratio of 19.67, a PEG ratio of 2.03 and a beta of 2.31. Encore Wire Co. has a 1-year low of $37.30 and a 1-year high of $49.75.
Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings data on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.12. The firm had revenue of $292.00 million during the quarter, compared to the consensus estimate of $279.60 million. Encore Wire had a return on equity of 8.42% and a net margin of 4.53%. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. sell-side analysts anticipate that Encore Wire Co. will post 2.32 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. grew its stake in Encore Wire by 1.6% in the second quarter. Suntrust Banks Inc. now owns 6,781 shares of the electronics maker’s stock valued at $289,000 after acquiring an additional 104 shares during the period. Texas Permanent School Fund lifted its holdings in shares of Encore Wire by 0.9% in the second quarter. Texas Permanent School Fund now owns 15,149 shares of the electronics maker’s stock valued at $647,000 after purchasing an additional 136 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Encore Wire by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 9,974 shares of the electronics maker’s stock valued at $426,000 after purchasing an additional 154 shares in the last quarter. Rhumbline Advisers raised its holdings in Encore Wire by 0.8% during the second quarter. Rhumbline Advisers now owns 47,630 shares of the electronics maker’s stock worth $2,034,000 after acquiring an additional 381 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in Encore Wire by 8.4% during the second quarter. Voya Investment Management LLC now owns 10,848 shares of the electronics maker’s stock worth $463,000 after acquiring an additional 841 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. BidaskClub lowered Encore Wire from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Zacks Investment Research lowered Encore Wire from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Sidoti raised Encore Wire from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Wednesday. Finally, TheStreet raised Encore Wire from a “c+” rating to a “b” rating in a report on Monday, October 23rd.
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Encore Wire 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.
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