Quantitative Systematic Strategies LLC decreased its stake in General Cable Corp. (NYSE:BGC) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 13,681 shares of the company’s stock after selling 385 shares during the period. Quantitative Systematic Strategies LLC’s holdings in General Cable Corp. were worth $172,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in General Cable Corp. by 975.0% in the second quarter. Nisa Investment Advisors LLC now owns 8,600 shares of the company’s stock valued at $109,000 after buying an additional 7,800 shares during the period. Capstone Asset Management Co. boosted its stake in General Cable Corp. by 3.0% in the second quarter. Capstone Asset Management Co. now owns 15,019 shares of the company’s stock valued at $191,000 after buying an additional 440 shares during the period. Louisiana State Employees Retirement System boosted its stake in General Cable Corp. by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the company’s stock valued at $277,000 after buying an additional 100 shares during the period. BNP Paribas Arbitrage SA boosted 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 valued at $311,000 after buying an additional 8,972 shares during the period. Finally, Alpha Windward LLC purchased a new stake in General Cable Corp. during the second quarter valued at $377,000. Institutional investors own 98.41% of the company’s stock.
Shares of General Cable Corp. (NYSE:BGC) traded up 1.06% during mid-day trading on Tuesday, reaching $14.25. The company had a trading volume of 670,254 shares. The stock has a 50 day moving average price of $14.75 and a 200 day moving average price of $14.30. 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 $702.35 million.
General Cable Corp. (NYSE:BGC) last issued its earnings results on Wednesday, August 3rd. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by $0.01. General Cable Corp. had a positive return on equity of 34.01% and a negative net margin of 1.33%. The company earned $990 million during the quarter, compared to the consensus estimate of $991.77 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, equities analysts forecast that General Cable Corp. will post $0.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 9th were paid a $0.18 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.72 annualized dividend and a yield of 5.05%. General Cable Corp.’s dividend payout ratio is currently -65.45%.
Several analysts have recently weighed in on the company. Zacks Investment Research cut General Cable Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. TheStreet upgraded General Cable Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 29th.
General Cable Corp. Company 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 operates through four segments: North America, Europe, Latin America, and Africa/Asia Pacific.
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