Encore Wire Co. (WIRE) to Issue Quarterly Dividend of $0.02 on January 19th
Encore Wire Co. (NASDAQ:WIRE) announced a quarterly dividend on Thursday, November 9th, Wall Street Journal reports. Investors of record on Friday, January 5th will be given a dividend of 0.02 per share by the electronics maker on Friday, January 19th. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Thursday, January 4th.
Shares of Encore Wire (WIRE) opened at $49.40 on Wednesday. The firm has a market cap of $1,012.66, a PE ratio of 20.67, a P/E/G ratio of 2.10 and a beta of 2.31. Encore Wire has a 52 week low of $37.30 and a 52 week high of $49.75.
Encore Wire (NASDAQ:WIRE) last posted its earnings results on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.12. The business had revenue of $292.00 million for the quarter, compared to analysts’ expectations of $279.60 million. Encore Wire had a net margin of 4.53% and a return on equity of 8.42%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. equities analysts anticipate that Encore Wire will post 2.32 earnings per share for the current fiscal year.
A number of analysts recently weighed in on WIRE shares. Zacks Investment Research raised shares of Encore Wire from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. Sidoti started coverage on shares of Encore Wire in a research note on Thursday, October 19th. They issued a “neutral” rating on the stock. TheStreet raised shares of Encore Wire from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Finally, BidaskClub upgraded shares of Encore Wire from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 27th.
In other Encore Wire news, VP Frank J. Bilban sold 9,814 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $48.30, for a total value of $474,016.20. Following the transaction, the vice president now directly owns 56,934 shares in the company, valued at $2,749,912.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Frank J. Bilban sold 1,557 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 56,934 shares in the company, valued at $2,704,934.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,507 shares of company stock worth $790,449. Company insiders own 3.79% of the company’s stock.
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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