Frank J. Bilban Sells 8,924 Shares of Encore Wire Co. (WIRE) Stock

Encore Wire Co. (NASDAQ:WIRE) CFO Frank J. Bilban sold 8,924 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $51.52, for a total value of $459,764.48. Following the sale, the chief financial officer now directly owns 19,900 shares in the company, valued at $1,025,248. The transaction was disclosed in a filing with the SEC, which is available at this link.

Encore Wire Co. (NASDAQ:WIRE) traded down $0.05 during mid-day trading on Thursday, hitting $51.40. The company had a trading volume of 86,309 shares, compared to its average volume of 72,750. The firm has a market cap of $1,062.62, a price-to-earnings ratio of 21.51, a P/E/G ratio of 2.42 and a beta of 2.31. Encore Wire Co. has a twelve month low of $37.30 and a twelve month high of $51.85.

Encore Wire (NASDAQ:WIRE) last issued its earnings results on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $292.00 million for the quarter, compared to analyst estimates of $279.60 million. During the same period last year, the company earned $0.29 earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. research analysts forecast that Encore Wire Co. will post 2.32 earnings per share for the current year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of WIRE. Schwab Charles Investment Management Inc. increased its position in Encore Wire by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 175,737 shares of the electronics maker’s stock worth $7,504,000 after buying an additional 7,726 shares during the period. Legal & General Group Plc increased its position in Encore Wire by 15.4% in the second quarter. Legal & General Group Plc now owns 39,718 shares of the electronics maker’s stock worth $1,696,000 after buying an additional 5,298 shares during the period. BNP Paribas Arbitrage SA increased its position in Encore Wire by 62.7% in the second quarter. BNP Paribas Arbitrage SA now owns 6,835 shares of the electronics maker’s stock worth $292,000 after buying an additional 2,634 shares during the period. Prudential Financial Inc. increased its position in Encore Wire by 80.9% in the second quarter. Prudential Financial Inc. now owns 71,870 shares of the electronics maker’s stock worth $3,069,000 after buying an additional 32,140 shares during the period. Finally, Swiss National Bank increased its position in Encore Wire by 6.5% in the second quarter. Swiss National Bank now owns 34,533 shares of the electronics maker’s stock worth $1,475,000 after buying an additional 2,100 shares during the period. 88.92% of the stock is currently owned by hedge funds and other institutional investors.

WIRE has been the topic of several research reports. Zacks Investment Research lowered Encore Wire from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 2nd. Sidoti initiated coverage on Encore Wire in a research report on Thursday, October 19th. They set a “neutral” rating on the stock. BidaskClub raised Encore Wire from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, TheStreet raised Encore Wire from a “c+” rating to a “b” rating in a research report on Monday, October 23rd.

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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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