Mason Street Advisors LLC bought a new position in General Cable Corp. (NYSE:BGC) during the second quarter, Holdings Channel reports. The fund bought 9,627 shares of the company’s stock, valued at approximately $122,000.
Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in shares of General Cable Corp. by 975.0% in the second quarter. Nisa Investment Advisors LLC now owns 8,600 shares of the company’s stock worth $109,000 after buying an additional 7,800 shares during the last quarter. KCG Holdings Inc. acquired a new stake in shares of General Cable Corp. during the second quarter worth $127,000. Rational Advisors LLC acquired a new stake in shares of General Cable Corp. during the second quarter worth $130,000. Emerald Acquisition Ltd. acquired a new stake in shares of General Cable Corp. during the second quarter worth $137,000. Finally, Quantitative Investment Management LLC acquired a new stake in shares of General Cable Corp. during the second quarter worth $162,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.
General Cable Corp. (NYSE:BGC) opened at 14.10 on Tuesday. The firm’s market cap is $694.96 million. The company has a 50-day moving average of $14.80 and a 200-day moving average of $14.28. General Cable Corp. has a 1-year low of $6.22 and a 1-year high of $16.46.
General Cable Corp. (NYSE:BGC) last announced its earnings results on Wednesday, August 3rd. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ 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 period in the prior year, the firm posted $0.36 earnings per share. The company’s revenue was down 11.1% on a year-over-year basis. Analysts predict 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Wednesday, September 7th. General Cable Corp.’s dividend payout ratio is presently -65.45%.
A number of brokerages recently weighed in on BGC. Zacks Investment Research cut shares of General Cable Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. TheStreet raised shares of General Cable Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 29th.
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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