Houston Wire & Cable Company (NASDAQ:HWCC) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its stake in Houston Wire & Cable Company (NASDAQ:HWCC) by 22.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 422,311 shares of the industrial products company’s stock after selling 121,700 shares during the period. Ameriprise Financial Inc. owned 2.56% of Houston Wire & Cable worth $2,217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HWCC. FMR LLC raised its stake in Houston Wire & Cable by 4.6% during the 1st quarter. FMR LLC now owns 1,523,188 shares of the industrial products company’s stock valued at $10,282,000 after acquiring an additional 67,005 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Houston Wire & Cable by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 987,879 shares of the industrial products company’s stock worth $6,668,000 after buying an additional 18,110 shares in the last quarter. Brandes Investment Partners LP raised its stake in shares of Houston Wire & Cable by 23.1% in the 2nd quarter. Brandes Investment Partners LP now owns 356,165 shares of the industrial products company’s stock worth $1,947,000 after buying an additional 66,917 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Houston Wire & Cable by 35.1% in the 2nd quarter. Franklin Resources Inc. now owns 250,000 shares of the industrial products company’s stock worth $1,313,000 after buying an additional 65,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Houston Wire & Cable by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 97,400 shares of the industrial products company’s stock worth $657,000 after buying an additional 2,200 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently commented on HWCC. Zacks Investment Research downgraded Houston Wire & Cable from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. TheStreet downgraded Houston Wire & Cable from a “c-” rating to a “d+” rating in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Houston Wire & Cable presently has a consensus rating of “Hold” and an average target price of $8.00.

In related news, Director William H. Sheffield purchased 10,000 shares of Houston Wire & Cable stock in a transaction on Wednesday, August 23rd. The stock was bought at an average price of $4.80 per share, with a total value of $48,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $96,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

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Houston Wire & Cable Company (HWCC) opened at $5.85 on Friday. Houston Wire & Cable Company has a 1-year low of $4.70 and a 1-year high of $8.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.92 and a current ratio of 7.21.

Houston Wire & Cable (NASDAQ:HWCC) last issued its earnings results on Thursday, November 9th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter. Houston Wire & Cable had a negative return on equity of 0.86% and a negative net margin of 1.33%. The business had revenue of $81.20 million for the quarter, compared to analysts’ expectations of $77.60 million. During the same period in the previous year, the firm posted ($0.09) EPS. The company’s quarterly revenue was up 24.5% on a year-over-year basis. research analysts predict that Houston Wire & Cable Company will post -0.05 EPS for the current year.

Houston Wire & Cable Profile

Houston Wire & Cable Company is a holding company. The Company is engaged in provision of electrical and mechanical wire and cable, hardware and related services. It operates through sales of wire and cable, hardware and related services segment in the United States market. Its cable management program includes purchasing and storing inventory for product availability.

Institutional Ownership by Quarter for Houston Wire & Cable (NASDAQ:HWCC)

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