Headlines about Encore Wire (NASDAQ:WIRE) have trended somewhat positive on Thursday, according to Accern. Accern identifies negative and positive news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Encore Wire earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned news headlines about the electronics maker an impact score of 46.1797187086758 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Several equities research analysts recently weighed in on WIRE shares. BidaskClub raised shares of Encore Wire from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 27th. Sidoti raised 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. DA Davidson lifted their target price on shares of Encore Wire to $54.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. ValuEngine upgraded shares of Encore Wire from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, Zacks Investment Research upgraded shares of Encore Wire from a “hold” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a research note on Tuesday, February 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Encore Wire presently has a consensus rating of “Buy” and a consensus price target of $58.00.
Encore Wire stock opened at $58.00 on Thursday. The firm has a market cap of $1,198.06, a price-to-earnings ratio of 18.13, a PEG ratio of 1.94 and a beta of 2.12. Encore Wire has a one year low of $37.30 and a one year high of $58.70.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, April 6th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Thursday, April 5th. Encore Wire’s dividend payout ratio is presently 2.50%.
In related news, VP Frank J. Bilban sold 10,000 shares of Encore Wire stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $49.53, for a total transaction of $495,300.00. Following the transaction, the vice president now owns 44,900 shares in the company, valued at approximately $2,223,897. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Matthew D. Ford sold 2,500 shares of Encore Wire stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $52.45, for a total transaction of $131,125.00. Following the transaction, the insider now owns 4,000 shares in the company, valued at approximately $209,800. The disclosure for this sale can be found here. Insiders have sold a total of 36,524 shares of company stock worth $1,848,839 in the last quarter. Corporate insiders own 3.79% of the company’s stock.
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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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