Houston Wire & Cable (HWCC) Reaches New 52-Week High and Low on Insider Buying Activity


Houston Wire & Cable (NASDAQ:HWCC) hit a new 52-week high and low during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as low as $8.40 and last traded at $8.35, with a volume of 604 shares traded. The stock had previously closed at $7.90.


Specifically, CFO Christopher M. Micklas purchased 22,356 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The stock was bought at an average price of $7.91 per share, with a total value of $176,835.96. Following the completion of the purchase, the chief financial officer now owns 44,700 shares in the company, valued at approximately $353,577. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Roy W. Haley purchased 3,704 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The stock was bought at an average cost of $7.20 per share, with a total value of $26,668.80. Following the purchase, the director now owns 13,704 shares of the company’s stock, valued at approximately $98,668.80. The disclosure for this purchase can be found here. In the last three months, insiders bought 29,856 shares of company stock valued at $231,178. Insiders own 3.90% of the company’s stock.

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HWCC has been the subject of several recent research reports. ValuEngine raised Houston Wire & Cable from a “sell” rating to a “hold” rating in a research note on Saturday, April 7th. Zacks Investment Research raised Houston Wire & Cable from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Wednesday, March 21st.

The company has a market capitalization of $129.38 million, a P/E ratio of 54.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.86, a current ratio of 6.62 and a quick ratio of 2.53.

Houston Wire & Cable (NASDAQ:HWCC) last released its earnings results on Friday, March 16th. The industrial products company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.04 by $0.08. Houston Wire & Cable had a return on equity of 5.31% and a net margin of 0.67%. The business had revenue of $82.15 million during the quarter, compared to analysts’ expectations of $78.40 million.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in Houston Wire & Cable by 180.1% during the fourth quarter. Wells Fargo & Company MN now owns 15,690 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 10,088 shares during the period. Dimensional Fund Advisors LP grew its stake in Houston Wire & Cable by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,031,048 shares of the industrial products company’s stock worth $7,552,000 after purchasing an additional 21,886 shares during the period. Deutsche Bank AG grew its stake in Houston Wire & Cable by 62.3% during the fourth quarter. Deutsche Bank AG now owns 58,292 shares of the industrial products company’s stock worth $419,000 after purchasing an additional 22,375 shares during the period. SG Capital Management LLC acquired a new stake in Houston Wire & Cable during the fourth quarter worth approximately $167,000. Finally, Renaissance Technologies LLC grew its stake in Houston Wire & Cable by 28.1% during the fourth quarter. Renaissance Technologies LLC now owns 153,500 shares of the industrial products company’s stock worth $1,105,000 after purchasing an additional 33,700 shares during the period. 64.35% of the stock is owned by institutional investors and hedge funds.

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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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