General Cable Corp. (BGC) Stake Increased by Boston Advisors LLC
Boston Advisors LLC boosted its position in shares of General Cable Corp. (NYSE:BGC) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 30,185 shares of the company’s stock after buying an additional 385 shares during the period. Boston Advisors LLC’s holdings in General Cable Corp. were worth $384,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of General Cable Corp. during the fourth quarter worth $10,831,000. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of General Cable Corp. by 61.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 159,495 shares of the company’s stock worth $1,947,000 after buying an additional 60,870 shares during the period. Prudential Financial Inc. increased its position in shares of General Cable Corp. by 6.4% in the first quarter. Prudential Financial Inc. now owns 128,599 shares of the company’s stock worth $1,570,000 after buying an additional 7,726 shares during the period. BlackRock Group LTD increased its position in shares of General Cable Corp. by 19.2% in the first quarter. BlackRock Group LTD now owns 80,419 shares of the company’s stock worth $982,000 after buying an additional 12,975 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of General Cable Corp. by 0.9% in the first quarter. BlackRock Fund Advisors now owns 3,089,567 shares of the company’s stock worth $37,724,000 after buying an additional 26,693 shares during the period. Hedge funds and other institutional investors own 98.44% of the company’s stock.
General Cable Corp. (NYSE:BGC) traded up 0.07% on Thursday, reaching $15.13. 133,180 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $15.04 and a 200 day moving average price of $14.10. The stock’s market cap is $745.73 million. General Cable Corp. has a 12-month low of $6.22 and a 12-month high of $16.46.
General Cable Corp. (NYSE:BGC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by $0.01. General Cable Corp. had a negative net margin of 1.33% and a positive return on equity of 34.01%. The business earned $990 million during the quarter, compared to the consensus estimate of $991.77 million. During the same quarter in the prior year, the firm posted $0.36 EPS. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. Analysts forecast that General Cable Corp. will post $0.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 4.76%. General Cable Corp.’s dividend payout ratio is currently -65.45%.
BGC has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of General Cable Corp. from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Tuesday, July 19th. TheStreet upgraded shares of General Cable Corp. from a “sell” rating to a “hold” rating in a research report on Monday, August 29th.
General Cable Corp. Company Profile
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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