Capstone Asset Management Co. raised its position in shares of General Cable Corp. (NYSE:BGC) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,019 shares of the company’s stock after buying an additional 440 shares during the period. Capstone Asset Management Co.’s holdings in General Cable Corp. were worth $191,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Alpha Windward LLC acquired a new stake in General Cable Corp. during the second quarter worth about $377,000. BNP Paribas Arbitrage SA increased its stake in General Cable Corp. by 58.0% in the second quarter. BNP Paribas Arbitrage SA now owns 24,451 shares of the company’s stock worth $311,000 after buying an additional 8,972 shares during the period. Boothbay Fund Management LLC acquired a new stake in General Cable Corp. during the first quarter worth about $645,000. Arizona State Retirement System increased its stake in General Cable Corp. by 3.7% in the first quarter. Arizona State Retirement System now owns 25,201 shares of the company’s stock worth $308,000 after buying an additional 900 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in General Cable Corp. by 1.2% in the first quarter. Panagora Asset Management Inc. now owns 599,256 shares of the company’s stock worth $7,317,000 after buying an additional 7,339 shares during the period. Institutional investors own 98.44% of the company’s stock.
General Cable Corp. (NYSE:BGC) traded up 2.53% during trading on Friday, hitting $14.98. 288,338 shares of the company traded hands. The stock has a 50-day moving average price of $15.08 and a 200-day moving average price of $13.97. General Cable Corp. has a 12-month low of $6.22 and a 12-month high of $16.46. The firm’s market capitalization is $738.33 million.
General Cable Corp. (NYSE:BGC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $990 million for the quarter, compared to the consensus estimate of $991.77 million. General Cable Corp. had a positive return on equity of 34.01% and a negative net margin of 1.33%. General Cable Corp.’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities analysts expect that General Cable Corp. will post $0.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Wednesday, September 7th. General Cable Corp.’s payout ratio is -65.45%.
A number of research firms have recently issued reports on BGC. TheStreet upgraded shares of General Cable Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 29th. Zacks Investment Research downgraded shares of General Cable Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th.
About General Cable Corp.
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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