General Cable Corp. (BGC) Sees Large Volume Increase
General Cable Corp. (NYSE:BGC) shares saw strong trading volume on Monday . 1,049,017 shares traded hands during trading, an increase of 57% from the previous session’s volume of 669,656 shares.The stock last traded at $14.77 and had previously closed at $14.74.
Separately, Zacks Investment Research downgraded General Cable Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th.
The stock’s market capitalization is $727.32 million. The company’s 50-day moving average is $13.76 and its 200-day moving average is $12.25.
General Cable Corp. (NYSE:BGC) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.17. During the same period in the previous year, the business posted ($0.78) earnings per share. The firm had revenue of $974 million for the quarter, compared to the consensus estimate of $851.33 million. The business’s revenue for the quarter was down 16.8% compared to the same quarter last year. On average, analysts predict that General Cable Corp. will post $0.97 earnings per share for the current year.
Several large investors recently added to or reduced their stakes in BGC. Matarin Capital Management LLC bought a new stake in General Cable Corp. during the fourth quarter valued at $5,885,000. Nationwide Fund Advisors raised its stake in General Cable Corp. by 12.7% in the fourth quarter. Nationwide Fund Advisors now owns 302,389 shares of the company’s stock valued at $4,061,000 after buying an additional 34,174 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in General Cable Corp. during the fourth quarter valued at $2,642,000. South Dakota Investment Council raised its stake in General Cable Corp. by 22.3% in the fourth quarter. South Dakota Investment Council now owns 138,513 shares of the company’s stock valued at $1,860,000 after buying an additional 25,300 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in General Cable Corp. by 482.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 122,380 shares of the company’s stock valued at $1,643,000 after buying an additional 101,358 shares in the last quarter.
General Cable Corporation is engaged in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for use in the energy, industrial, construction, specialty and communications markets. The Company operates through four segments: North America, Europe, Latin America, and Africa/Asia Pacific.
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