Houston Wire & Cable (NASDAQ:HWCC) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 151,900 shares, a growth of 13.6% from the May 30th total of 133,700 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 21,100 shares, the days-to-cover ratio is currently 7.2 days.
In related news, Director G Gary Yetman acquired 7,015 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were bought at an average price of $5.46 per share, for a total transaction of $38,301.90. Following the acquisition, the director now owns 12,139 shares in the company, valued at approximately $66,278.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 10,788 shares of company stock worth $58,033 in the last quarter. Insiders own 6.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Investors Research Corp acquired a new stake in shares of Houston Wire & Cable during the 1st quarter valued at about $51,000. Walthausen & Co. LLC boosted its position in shares of Houston Wire & Cable by 2.2% during the 4th quarter. Walthausen & Co. LLC now owns 555,509 shares of the industrial products company’s stock valued at $2,811,000 after acquiring an additional 12,050 shares in the last quarter. Raymond James & Associates boosted its position in shares of Houston Wire & Cable by 5.3% during the 4th quarter. Raymond James & Associates now owns 246,302 shares of the industrial products company’s stock valued at $1,246,000 after acquiring an additional 12,400 shares in the last quarter. BlackRock Inc. boosted its position in Houston Wire & Cable by 3.6% in the fourth quarter. BlackRock Inc. now owns 486,451 shares of the industrial products company’s stock valued at $2,462,000 after buying an additional 16,833 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Houston Wire & Cable by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,104,048 shares of the industrial products company’s stock valued at $5,586,000 after buying an additional 18,728 shares in the last quarter. Institutional investors and hedge funds own 64.18% of the company’s stock.
Shares of NASDAQ:HWCC traded down $0.12 on Monday, hitting $4.96. 20,600 shares of the company were exchanged, compared to its average volume of 28,396. The firm’s 50 day moving average price is $5.34. Houston Wire & Cable has a one year low of $4.76 and a one year high of $9.00. The company has a debt-to-equity ratio of 0.85, a current ratio of 6.69 and a quick ratio of 2.65. The stock has a market capitalization of $84.39 million, a price-to-earnings ratio of 9.24 and a beta of 1.57.
Houston Wire & Cable (NASDAQ:HWCC) last posted its quarterly earnings data on Thursday, May 9th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter. Houston Wire & Cable had a net margin of 2.51% and a return on equity of 9.04%. The company had revenue of $85.27 million for the quarter.
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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