Encore Wire Co. (WIRE) CFO Sells $73,973.07 in Stock

Encore Wire Co. (NASDAQ:WIRE) CFO Frank J. Bilban sold 1,557 shares of Encore Wire stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $47.51, for a total transaction of $73,973.07. Following the transaction, the chief financial officer now directly owns 56,934 shares of the company’s stock, valued at $2,704,934.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Encore Wire Co. (NASDAQ:WIRE) traded up $1.90 during midday trading on Wednesday, hitting $48.50. 181,339 shares of the company’s stock were exchanged, compared to its average volume of 77,852. Encore Wire Co. has a one year low of $37.30 and a one year high of $49.75. The company has a market capitalization of $978.32, a P/E ratio of 19.67, a PEG ratio of 2.03 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, topping the Zacks’ consensus estimate of $0.55 by $0.12. Encore Wire had a net margin of 4.53% and a return on equity of 8.42%. The company had revenue of $292.00 million during the quarter, compared to the consensus estimate of $279.60 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The company’s revenue was up 23.1% on a year-over-year basis. equities research analysts expect 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 paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date is Thursday, January 4th. Encore Wire’s dividend payout ratio is presently 3.35%.

Several brokerages recently issued reports on WIRE. Sidoti raised shares of Encore Wire from a “neutral” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday. BidaskClub downgraded shares of Encore Wire from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Zacks Investment Research downgraded shares of Encore Wire from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, TheStreet raised shares of Encore Wire from a “c+” rating to a “b” rating in a report on Monday, October 23rd.

Several hedge funds and other institutional investors have recently made changes to their positions in WIRE. State of Alaska Department of Revenue raised its stake in shares of Encore Wire by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 4,096 shares of the electronics maker’s stock worth $174,000 after acquiring an additional 1,806 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Encore Wire in the third quarter worth about $202,000. Aperio Group LLC raised its stake in shares of Encore Wire by 25.2% during the second quarter. Aperio Group LLC now owns 6,259 shares of the electronics maker’s stock worth $267,000 after buying an additional 1,260 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Encore Wire during the third quarter worth approximately $272,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Encore Wire during the third quarter worth approximately $273,000. 88.95% of the stock is owned by institutional investors.

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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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