Shares of Encore Wire Co. (NASDAQ:WIRE) have earned an average broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company. Encore Wire’s rating score has improved by 16.5% in the last 90 days as a result of various analysts’ ratings changes.

Analysts have set a one year consensus price target of $48.25 for the company and are expecting that the company will post $0.47 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Encore Wire an industry rank of 208 out of 265 based on the ratings given to its competitors.

Several equities research analysts recently issued reports on the stock. Sidoti raised shares of Encore Wire from a “neutral” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Wednesday, December 6th. TheStreet raised shares of Encore Wire from a “c+” rating to a “b” rating in a report on Monday, October 23rd. BidaskClub raised shares of Encore Wire from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. Finally, Zacks Investment Research lowered shares of Encore Wire from a “hold” rating to a “strong sell” rating in a report on Thursday, November 2nd.

In other Encore Wire news, CFO Frank J. Bilban sold 1,557 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $47.51, for a total transaction of $73,973.07. Following the sale, the chief financial officer now directly owns 56,934 shares of the company’s stock, valued at approximately $2,704,934.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Frank J. Bilban sold 9,814 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $48.30, for a total transaction of $474,016.20. Following the sale, the vice president now directly owns 56,934 shares in the company, valued at $2,749,912.20. The disclosure for this sale can be found here. Insiders have sold a total of 46,395 shares of company stock worth $2,311,704 over the last ninety days. 3.79% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Dean Investment Associates LLC bought a new stake in Encore Wire during the 3rd quarter worth approximately $3,473,000. Janus Henderson Group PLC grew its holdings in Encore Wire by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 1,080,586 shares of the electronics maker’s stock worth $48,383,000 after acquiring an additional 137,099 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Encore Wire by 38.3% during the 3rd quarter. Nationwide Fund Advisors now owns 20,796 shares of the electronics maker’s stock worth $931,000 after acquiring an additional 5,757 shares during the last quarter. Vanguard Group Inc. grew its holdings in Encore Wire by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,833,564 shares of the electronics maker’s stock worth $78,294,000 after acquiring an additional 50,586 shares during the last quarter. Finally, Granite Investment Partners LLC grew its holdings in Encore Wire by 6.1% during the 3rd quarter. Granite Investment Partners LLC now owns 290,914 shares of the electronics maker’s stock worth $13,026,000 after acquiring an additional 16,818 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Encore Wire (NASDAQ:WIRE) opened at $49.90 on Friday. The stock has a market cap of $1,068.86, a P/E ratio of 20.88, a P/E/G ratio of 2.43 and a beta of 2.26. Encore Wire has a 1-year low of $37.30 and a 1-year high of $52.65.

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

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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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