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.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be paid a $0.02 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. Encore Wire’s dividend payout ratio (DPR) is currently 3.35%.

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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