Encore Wire Co. (WIRE) VP Sells $495,300.00 in Stock

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.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, January 5th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. Encore Wire’s dividend payout ratio is currently 3.35%.

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.

COPYRIGHT VIOLATION NOTICE: “Encore Wire Co. (WIRE) VP Sells $495,300.00 in Stock” was reported by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/01/04/encore-wire-co-wire-vp-sells-495300-00-in-stock.html.

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.

Receive News & Ratings for Encore Wire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Wire and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply