Encore Wire Director Buys 5,000 Shares of Stock (WIRE)

Encore Wire Director John H. Wilson purchased 5,000 shares of Encore Wire stock on the open market in a transaction dated Tuesday, December 16th. The stock was purchased at an average price of $35.00 per share, with a total value of $175,000.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $175,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

A number of analysts have recently weighed in on WIRE shares. Analysts at DA Davidson raised their price target on shares of Encore Wire from $40.00 to $45.00 in a research note on Monday. They now have a "neutral" rating on the stock. Finally, analysts at Zacks upgraded shares of Encore Wire from an "underperform" rating to a "neutral" rating in a research note on Monday, September 29th. They now have a $38.60 price target on the stock.

Encore Wire (NASDAQ:WIRE) traded up 3.53% during mid-day trading on Thursday, hitting $36.68. 53,384 shares of the company's stock traded hands. Encore Wire has a 1-year low of $33.61 and a 1-year high of $57.99. The stock's 50-day moving average is $37.60 and its 200-day moving average is $42.0. The company has a market cap of $760.0 million and a P/E ratio of 17.03.

Encore Wire (NASDAQ:WIRE) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.02. The company had revenue of $297.40 million for the quarter, compared to the consensus estimate of $327.00 million. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company's revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts predict that Encore Wire will post $1.99 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, January 16th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Tuesday, December 30th.

Encore Wire Corporation (NASDAQ:WIRE) is a manufacturer of electrical building wire and cable.

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