General Cable Corp. (BGC) Sees Large Volume Increase
General Cable Corp. (NYSE:BGC) shares saw unusually-high trading volume on Thursday . Approximately 1,001,384 shares traded hands during trading, an increase of 65% from the previous session’s volume of 608,189 shares.The stock last traded at $14.02 and had previously closed at $14.06.
Separately, Zacks Investment Research raised shares of General Cable Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 19th.
The firm’s market capitalization is $674.63 million. The stock’s 50 day moving average is $13.86 and its 200-day moving average is $12.43.
General Cable Corp. (NYSE:BGC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. During the same quarter in the prior year, the company earned $0.36 EPS. The company had revenue of $990 million for the quarter, compared to analyst estimates of $991.77 million. General Cable Corp.’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, equities research analysts forecast that General Cable Corp. will post $1.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.72 annualized dividend and a yield of 5.26%.
A number of institutional investors have made changes to their positions in the stock. New York State Common Retirement Fund raised its position in shares of General Cable Corp. by 4.7% in the fourth quarter. New York State Common Retirement Fund now owns 93,654 shares of the company’s stock valued at $1,258,000 after buying an additional 4,238 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of General Cable Corp. during the fourth quarter valued at approximately $2,642,000. Finally, Matarin Capital Management LLC purchased a new stake in shares of General Cable Corp. during the fourth quarter valued at approximately $5,885,000.
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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