Menta Capital LLC Sells 74,357 Shares of General Cable Corporation (BGC)
Menta Capital LLC cut its stake in shares of General Cable Corporation (NYSE:BGC) by 35.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,100 shares of the industrial products company’s stock after selling 74,357 shares during the quarter. Menta Capital LLC owned approximately 0.27% of General Cable Corporation worth $2,225,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in BGC. State of Alaska Department of Revenue lifted its holdings in General Cable Corporation by 79.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,793 shares of the industrial products company’s stock worth $160,000 after buying an additional 4,323 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in General Cable Corporation by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,700 shares of the industrial products company’s stock worth $191,000 after buying an additional 470 shares during the period. Mason Street Advisors LLC lifted its holdings in General Cable Corporation by 7.6% during the 1st quarter. Mason Street Advisors LLC now owns 11,591 shares of the industrial products company’s stock worth $208,000 after buying an additional 819 shares during the period. Jane Street Group LLC acquired a new position in General Cable Corporation during the 1st quarter worth about $213,000. Finally, Caxton Associates LP acquired a new position in General Cable Corporation during the 1st quarter worth about $239,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.
Separately, BidaskClub downgraded General Cable Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 14th.
General Cable Corporation (BGC) opened at 19.35 on Thursday. The firm’s market capitalization is $962.74 million. General Cable Corporation has a 52 week low of $11.70 and a 52 week high of $20.80. The stock has a 50 day moving average price of $17.81 and a 200-day moving average price of $17.25.
General Cable Corporation (NYSE:BGC) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.12). General Cable Corporation had a positive return on equity of 13.47% and a negative net margin of 4.80%. The company had revenue of $943.10 million during the quarter. Analysts anticipate that General Cable Corporation will post $0.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 3.71%. General Cable Corporation’s dividend payout ratio (DPR) is presently -20.17%.
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About General Cable Corporation
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’s segments include North America, Europe, Latin America, and Africa/Asia Pacific.
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