Encore Wire (WIRE) Receiving Somewhat Favorable Media Coverage, Analysis Finds
News headlines about Encore Wire (NASDAQ:WIRE) have been trending somewhat positive recently, Accern Sentiment reports. Accern identifies positive and negative news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Encore Wire earned a daily sentiment score of 0.20 on Accern’s scale. Accern also assigned news coverage about the electronics maker an impact score of 45.3834711179573 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Encore Wire from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. 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 report on Wednesday, December 6th. Finally, TheStreet upgraded shares of Encore Wire from a “c+” rating to a “b” rating in a research report on Monday, October 23rd.
Encore Wire (NASDAQ WIRE) opened at $48.05 on Monday. The firm has a market cap of $1,000.16, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.07 and a beta of 2.31. Encore Wire has a 1 year low of $37.30 and a 1 year high of $49.75.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, January 5th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. Encore Wire’s dividend payout ratio is presently 3.35%.
In other news, VP Frank J. Bilban sold 9,814 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $48.30, for a total value of $474,016.20. Following the completion of 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew D. Ford sold 1,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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. Insiders have sold 16,507 shares of company stock valued at $790,449 in the last quarter. Company insiders own 3.79% of the company’s stock.
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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