General Cable Corporation (BGC) Shares Sold by Nationwide Fund Advisors
Nationwide Fund Advisors lowered its stake in shares of General Cable Corporation (NYSE:BGC) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 237,711 shares of the industrial products company’s stock after selling 10,268 shares during the quarter. Nationwide Fund Advisors owned approximately 0.48% of General Cable worth $4,481,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of BGC. Piedmont Investment Advisors LLC bought a new stake in General Cable during the 2nd quarter worth about $175,000. Quantum Capital Management bought a new stake in General Cable during the 2nd quarter worth about $182,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of General Cable by 4.2% in the 2nd 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 during the last quarter. Quantbot Technologies LP boosted its stake in shares of General Cable by 1,377.8% in the 2nd 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 during the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of General Cable in the 2nd quarter valued at about $328,000. 98.38% of the stock is currently owned by hedge funds and other institutional investors.
Separately, BidaskClub lowered shares of General Cable from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd.
General Cable Corporation (BGC) opened at $29.90 on Friday. The stock has a market cap of $1,504.26, a PE ratio of 44.19 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 $30.17.
General Cable (NYSE:BGC) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. The company had revenue of $994.00 million for the quarter, compared to analyst estimates of $879.80 million. General Cable had a negative net margin of 4.71% and a positive return on equity of 43.57%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, December 7th. General Cable’s dividend payout ratio (DPR) is presently -20.22%.
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General Cable 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’s segments include North America, Europe, Latin America, and Africa/Asia Pacific.
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