Shares of Encore Wire Co. (NASDAQ:WIRE) hit a new 52-week high on Tuesday . The company traded as high as $51.30 and last traded at $50.95, with a volume of 45000 shares. The stock had previously closed at $50.60.
Several research firms recently commented on WIRE. BidaskClub upgraded shares of Encore Wire from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 27th. Sidoti upgraded shares of Encore Wire from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, December 6th. Zacks Investment Research cut shares of Encore Wire from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 2nd. Finally, TheStreet upgraded shares of Encore Wire from a “c+” rating to a “b” rating in a research note on Monday, October 23rd.
The company has a market cap of $1,062.62, a P/E ratio of 21.53, a P/E/G ratio of 2.42 and a beta of 2.31.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, January 5th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, January 4th. Encore Wire’s payout ratio is currently 3.35%.
In related news, VP Frank J. Bilban sold 15,000 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $50.50, for a total transaction of $757,500.00. Following the completion of 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 filing with the SEC, which is available through the SEC website. Also, insider Matthew D. Ford sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $46.00, for a total transaction of $46,000.00. Following the transaction, the insider now owns 2,500 shares of the company’s stock, valued at $115,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,507 shares of company stock valued at $2,043,249. Corporate insiders own 3.79% of the company’s stock.
A number of institutional investors have recently made changes to their positions in WIRE. Janus Henderson Group PLC bought a new stake in Encore Wire in the 2nd quarter valued at $40,287,000. Dean Investment Associates LLC bought a new stake in Encore Wire in the 3rd quarter valued at $3,473,000. Lyon Street Capital LLC bought a new stake in Encore Wire in the 3rd quarter valued at $3,390,000. Vanguard Group Inc. increased its holdings in Encore Wire by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,833,564 shares of the electronics maker’s stock valued at $78,294,000 after buying an additional 50,586 shares during the period. Finally, Prudential Financial Inc. increased its holdings in Encore Wire by 50.7% in the 3rd quarter. Prudential Financial Inc. now owns 108,300 shares of the electronics maker’s stock valued at $4,849,000 after buying an additional 36,430 shares during the period. 88.92% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “Encore Wire (WIRE) Sets New 52-Week High at $51.30” was reported by Ticker Report and is the property of of Ticker Report. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.tickerreport.com/banking-finance/3143901/encore-wire-wire-sets-new-52-week-high-at-51-30.html.
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.
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.