Houston Wire & Cable (NASDAQ:HWCC) reached a new 52-week high and low during mid-day trading on Thursday after an insider bought additional shares in the company. The company traded as low as $8.45 and last traded at $8.35, with a volume of 131723 shares. The stock had previously closed at $8.15.
Specifically, CFO Christopher M. Micklas purchased 22,356 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was purchased at an average cost of $7.91 per share, for a total transaction of $176,835.96. Following the acquisition, the chief financial officer now owns 44,700 shares in the company, valued at approximately $353,577. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roy W. Haley purchased 3,796 shares of the firm’s stock in a transaction on Monday, March 26th. The shares were acquired at an average price of $7.29 per share, with a total value of $27,672.84. Following the completion of the acquisition, the director now owns 17,500 shares in the company, valued at approximately $127,575. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 98,700 shares of company stock valued at $792,535. Company insiders own 3.90% of the company’s stock.
HWCC has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Houston Wire & Cable from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Wednesday, March 21st. ValuEngine raised shares of Houston Wire & Cable from a “sell” rating to a “hold” rating in a research report on Saturday, April 7th.
The stock has a market capitalization of $135.97 million, a PE ratio of 55.67 and a beta of 1.43. The company has a current ratio of 6.62, a quick ratio of 2.53 and a debt-to-equity ratio of 0.86.
Houston Wire & Cable (NASDAQ:HWCC) last released its quarterly earnings data on Friday, March 16th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.08. The company had revenue of $82.15 million for the quarter, compared to analysts’ expectations of $78.40 million. Houston Wire & Cable had a net margin of 0.67% and a return on equity of 5.31%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in Houston Wire & Cable by 180.1% in the 4th quarter. Wells Fargo & Company MN now owns 15,690 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 10,088 shares in the last quarter. Deutsche Bank AG lifted its position in Houston Wire & Cable by 62.3% in the 4th quarter. Deutsche Bank AG now owns 58,292 shares of the industrial products company’s stock valued at $419,000 after acquiring an additional 22,375 shares in the last quarter. Renaissance Technologies LLC lifted its position in Houston Wire & Cable by 28.1% in the 4th quarter. Renaissance Technologies LLC now owns 153,500 shares of the industrial products company’s stock valued at $1,105,000 after acquiring an additional 33,700 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its position in Houston Wire & Cable by 23.8% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 216,270 shares of the industrial products company’s stock valued at $1,557,000 after acquiring an additional 41,570 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its position in Houston Wire & Cable by 36.5% in the 4th quarter. Brandes Investment Partners LP now owns 485,911 shares of the industrial products company’s stock valued at $3,499,000 after acquiring an additional 129,826 shares in the last quarter. 64.09% of the stock is currently owned by institutional investors and hedge funds.
Houston Wire & Cable Company Profile
Houston Wire & Cable Company, through its subsidiaries, sells electrical and mechanical wire and cable, industrial fasteners, hardware, and related services in the United States. It offers wire and cable products, including continuous and interlocked armor cables; control and power cables; electronic wires and cables; flexible and portable cords; instrumentation and thermocouple cables; lead and high temperature cables; medium voltage cables; and premise and category wires and cables, primary and secondary aluminum distribution cables, and steel wire ropes and wire rope slings, as well as synthetic fiber rope slings, chains, shackles, and other related hardware and corrosion resistant products.
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