Encore Wire Co. (WIRE) VP Frank J. Bilban Sells 15,000 Shares
Encore Wire Co. (NASDAQ:WIRE) VP Frank J. Bilban sold 15,000 shares of Encore Wire stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $50.50, for a total value of $757,500.00. Following the transaction, the vice president now directly owns 34,900 shares in the company, valued at approximately $1,762,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Encore Wire Co. (WIRE) traded up $0.10 during mid-day trading on Tuesday, hitting $51.05. The company’s stock had a trading volume of 64,136 shares, compared to its average volume of 72,064. Encore Wire Co. has a one year low of $37.30 and a one year high of $51.50. The stock has a market cap of $1,060.54, a P/E ratio of 21.36, a P/E/G ratio of 2.41 and a beta of 2.31.
Encore Wire (NASDAQ:WIRE) last announced its earnings results on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $279.60 million. During the same period last year, the business posted $0.29 EPS. The company’s revenue was up 23.1% on a year-over-year basis. research analysts expect that Encore Wire Co. will post 2.32 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Piedmont Investment Advisors LLC purchased a new position in shares of Encore Wire in the 3rd quarter valued at approximately $202,000. SG Americas Securities LLC purchased a new position in shares of Encore Wire in the 3rd quarter valued at approximately $272,000. Crossmark Global Holdings Inc. purchased a new position in shares of Encore Wire in the 3rd quarter valued at approximately $273,000. Suntrust Banks Inc. grew its stake in shares of Encore Wire by 1.6% in the 2nd quarter. Suntrust Banks Inc. now owns 6,781 shares of the electronics maker’s stock valued at $289,000 after purchasing an additional 104 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Encore Wire by 62.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,835 shares of the electronics maker’s stock valued at $292,000 after purchasing an additional 2,634 shares during the last quarter. Institutional investors own 88.92% of the company’s stock.
Several research analysts have commented on the company. BidaskClub lowered Encore Wire from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 6th. TheStreet raised Encore Wire from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Sidoti started coverage on Encore Wire in a research report on Thursday, October 19th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded Encore Wire from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th.
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About Encore Wire
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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