Christopher M. Micklas Purchases 22,356 Shares of Houston Wire & Cable (HWCC) Stock

Houston Wire & Cable (NASDAQ:HWCC) CFO Christopher M. Micklas purchased 22,356 shares of the stock in a transaction on Tuesday, May 15th. The shares were acquired at an average price of $7.91 per share, for a total transaction of $176,835.96. Following the transaction, the chief financial officer now directly owns 44,700 shares of the company’s stock, valued at approximately $353,577. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Houston Wire & Cable opened at $8.10 on Friday, MarketBeat reports. The company has a market cap of $132.67 million, a price-to-earnings ratio of 26.83 and a beta of 1.40. 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 has a 12-month low of $7.90 and a 12-month high of $7.90.

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

A number of brokerages have issued reports on HWCC. ValuEngine upgraded Houston Wire & Cable from a “sell” rating to a “hold” rating in a research report on Saturday, April 7th. Zacks Investment Research upgraded Houston Wire & Cable from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Wednesday, March 21st.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Houston Wire & Cable by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,031,048 shares of the industrial products company’s stock valued at $7,552,000 after acquiring an additional 21,886 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Houston Wire & Cable by 36.5% in the fourth 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. Pacific Ridge Capital Partners LLC lifted its position in shares of Houston Wire & Cable by 23.8% in the fourth 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. Renaissance Technologies LLC lifted its position in shares of Houston Wire & Cable by 28.1% in the fourth 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. Finally, Deutsche Bank AG lifted its position in shares of Houston Wire & Cable by 62.3% in the fourth 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. Institutional investors and hedge funds own 64.35% of the company’s stock.

About Houston Wire & Cable

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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