Encore Wire Co. (NASDAQ:WIRE) VP Frank J. Bilban sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $49.53, for a total value of $495,300.00. Following the sale, the vice president now owns 44,900 shares of the company’s stock, valued at approximately $2,223,897. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Encore Wire Co. (NASDAQ WIRE) traded down $0.20 on Thursday, hitting $48.50. The stock had a trading volume of 59,959 shares, compared to its average volume of 82,567. The firm has a market cap of $1,028.27, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.34 and a beta of 2.31. Encore Wire Co. has a one year low of $37.30 and a one year high of $49.75.
Encore Wire (NASDAQ:WIRE) last issued its earnings results on Tuesday, October 31st. The electronics maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Encore Wire had a return on equity of 8.42% and a net margin of 4.53%. The company had revenue of $292.00 million during the quarter, compared to analyst estimates of $279.60 million. During the same quarter last year, the firm earned $0.29 EPS. The business’s revenue was up 23.1% on a year-over-year basis. research analysts anticipate that Encore Wire Co. will post 2.32 earnings per share for the current fiscal year.
A number of brokerages have weighed in on WIRE. BidaskClub upgraded Encore Wire from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. TheStreet upgraded Encore Wire from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Sidoti began coverage on Encore Wire in a research report on Thursday, October 19th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research lowered Encore Wire from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 2nd.
A number of large investors have recently added to or reduced their stakes in WIRE. Janus Henderson Group PLC acquired a new position in Encore Wire during the 2nd quarter valued at approximately $40,287,000. Thrivent Financial For Lutherans boosted its position in Encore Wire by 88.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 459,350 shares of the electronics maker’s stock valued at $19,614,000 after purchasing an additional 215,500 shares during the period. Dean Investment Associates LLC acquired a new position in Encore Wire during the 3rd quarter valued at approximately $3,473,000. Lyon Street Capital LLC acquired a new position in Encore Wire during the 3rd quarter valued at approximately $3,390,000. Finally, Vanguard Group Inc. boosted its position in Encore Wire by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,833,564 shares of the electronics maker’s stock valued at $78,294,000 after purchasing an additional 50,586 shares during the period. Institutional investors and hedge funds own 88.92% of the company’s stock.
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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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