Insider Selling: Encore Wire Co. (WIRE) CFO Sells 8,924 Shares of Stock

Encore Wire Co. (NASDAQ:WIRE) CFO Frank J. Bilban sold 8,924 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $51.52, for a total value of $459,764.48. Following the completion of the sale, the chief financial officer now directly owns 19,900 shares in the company, valued at $1,025,248. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Encore Wire Co. (WIRE) traded down $0.05 on Thursday, hitting $51.40. The stock had a trading volume of 86,309 shares, compared to its average volume of 72,750. The firm has a market capitalization of $1,062.62, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 2.42 and a beta of 2.31. Encore Wire Co. has a 52 week low of $37.30 and a 52 week high of $51.85.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings results on Tuesday, October 31st. The electronics maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. The company had revenue of $292.00 million for the quarter, compared to analyst estimates of $279.60 million. Encore Wire had a return on equity of 8.42% and a net margin of 4.53%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period last year, the company earned $0.29 earnings per share. research analysts anticipate that Encore Wire Co. will post 2.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, January 4th. Encore Wire’s dividend payout ratio (DPR) is 3.35%.

Several equities research analysts have weighed in on WIRE shares. Zacks Investment Research raised Encore Wire from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Sidoti started coverage on Encore Wire in a research report on Thursday, October 19th. They issued a “neutral” rating on the stock. TheStreet raised Encore Wire from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Finally, BidaskClub raised Encore Wire from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th.

Institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. increased its holdings in shares of Encore Wire by 80.9% during the second quarter. Prudential Financial Inc. now owns 71,870 shares of the electronics maker’s stock valued at $3,069,000 after purchasing an additional 32,140 shares during the period. Dean Investment Associates LLC acquired a new position in shares of Encore Wire during the third quarter valued at $3,473,000. Janus Henderson Group PLC increased its holdings in shares of Encore Wire by 14.5% during the third quarter. Janus Henderson Group PLC now owns 1,080,586 shares of the electronics maker’s stock valued at $48,383,000 after purchasing an additional 137,099 shares during the period. Vanguard Group Inc. increased its holdings in shares of Encore Wire by 2.8% during the second 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. Finally, Granite Investment Partners LLC increased its holdings in shares of Encore Wire by 6.1% during the third quarter. Granite Investment Partners LLC now owns 290,914 shares of the electronics maker’s stock valued at $13,026,000 after purchasing an additional 16,818 shares during the period. 88.92% of the stock is currently 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.

Insider Buying and Selling by Quarter for Encore Wire (NASDAQ:WIRE)

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