Baker Chad R Sells 73,650 Shares of Encore Wire Co. (WIRE)

Baker Chad R lowered its position in Encore Wire Co. (NASDAQ:WIRE) by 85.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,000 shares of the electronics maker’s stock after selling 73,650 shares during the quarter. Baker Chad R owned approximately 0.06% of Encore Wire worth $582,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WIRE. Prudential Financial Inc. lifted its position in shares of Encore Wire by 80.9% during the 2nd quarter. Prudential Financial Inc. now owns 71,870 shares of the electronics maker’s stock worth $3,069,000 after buying an additional 32,140 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 50,586 shares during the last quarter. Heartland Advisors Inc. lifted its position in shares of Encore Wire by 9.3% during the 2nd quarter. Heartland Advisors Inc. now owns 293,597 shares of the electronics maker’s stock worth $12,537,000 after buying an additional 25,000 shares during the last quarter. Granite Investment Partners LLC lifted its position in shares of 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 buying an additional 16,818 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of Encore Wire by 42.5% during the 2nd quarter. Citadel Advisors LLC now owns 15,109 shares of the electronics maker’s stock worth $645,000 after buying an additional 4,505 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

In related news, VP Frank J. Bilban sold 4,136 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $47.50, for a total value of $196,460.00. Following the sale, the vice president now directly owns 61,150 shares in the company, valued at approximately $2,904,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Frank J. Bilban sold 9,814 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $48.30, for a total transaction of $474,016.20. Following the completion of the sale, the vice president now owns 56,934 shares in the company, valued at $2,749,912.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,507 shares of company stock worth $790,449. Corporate insiders own 3.79% of the company’s stock.

Encore Wire Co. (NASDAQ:WIRE) opened at $47.55 on Tuesday. The stock has a market cap of $985.60, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.04 and a beta of 2.31. Encore Wire Co. has a 12 month low of $37.30 and a 12 month high of $49.75.

Encore Wire (NASDAQ:WIRE) last announced its quarterly earnings data on Tuesday, October 31st. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. The company 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%. Encore Wire’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS. research analysts anticipate that Encore Wire Co. will post 2.32 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be paid 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 dividend yield of 0.17%. Encore Wire’s dividend payout ratio (DPR) is presently 3.35%.

WIRE has been the subject of several research reports. Zacks Investment Research upgraded shares of Encore Wire from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. Sidoti initiated coverage on shares of Encore Wire in a research report on Thursday, October 19th. They issued a “neutral” rating for the company. TheStreet upgraded shares of Encore Wire from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Finally, BidaskClub downgraded shares of Encore Wire from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

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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.

Institutional Ownership by Quarter for Encore Wire (NASDAQ:WIRE)

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