General Cable Corporation (BGC) Stake Lessened by First Heartland Consultants Inc.
First Heartland Consultants Inc. trimmed its position in General Cable Corporation (NYSE:BGC) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,650 shares of the industrial products company’s stock after selling 6,900 shares during the quarter. First Heartland Consultants Inc. owned approximately 0.15% of General Cable worth $1,369,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in BGC. Piedmont Investment Advisors LLC purchased a new stake in General Cable in the second quarter valued at approximately $175,000. Quantum Capital Management purchased a new stake in General Cable in the second quarter valued at approximately $182,000. Municipal Employees Retirement System of Michigan raised its stake in General Cable by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,700 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 470 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in General Cable in the third quarter valued at approximately $246,000. Finally, Quantbot Technologies LP raised its stake in General Cable by 1,377.8% in the second quarter. Quantbot Technologies LP now owns 15,724 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 14,660 shares in the last quarter. 98.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Cable Corporation (NYSE:BGC) opened at $29.80 on Tuesday. The firm has a market cap of $1,489.25, a P/E ratio of 43.75 and a beta of 2.89. The company has a debt-to-equity ratio of 8.42, a current ratio of 1.98 and a quick ratio of 1.10. General Cable Corporation has a one year low of $14.95 and a one year high of $30.00.
General Cable (NYSE:BGC) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. General Cable had a negative net margin of 4.71% and a positive return on equity of 43.57%. The business had revenue of $994.00 million for the quarter, compared to analysts’ expectations of $879.80 million. During the same period last year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, December 7th. General Cable’s payout ratio is currently -20.22%.
Separately, BidaskClub downgraded shares of General Cable from a “buy” rating to a “hold” rating in a research note on Monday, August 14th.
About General Cable
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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