Algert Global LLC Has $609,000 Stake in General Cable Corporation (BGC)
Algert Global LLC lowered its stake in General Cable Corporation (NYSE:BGC) by 73.5% during the second quarter, Holdings Channel reports. The institutional investor owned 37,227 shares of the industrial products company’s stock after selling 103,075 shares during the period. Algert Global LLC’s holdings in General Cable Corporation were worth $609,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. purchased a new stake in General Cable Corporation during the second quarter valued at about $10,053,000. Texas Permanent School Fund boosted its stake in General Cable Corporation by 1.0% in the second quarter. Texas Permanent School Fund now owns 36,236 shares of the industrial products company’s stock valued at $592,000 after buying an additional 346 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in General Cable Corporation by 3.9% in the second quarter. Great West Life Assurance Co. Can now owns 72,532 shares of the industrial products company’s stock valued at $1,182,000 after buying an additional 2,700 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in General Cable Corporation 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 buying an additional 470 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in General Cable Corporation by 19.0% in the second quarter. Aperio Group LLC now owns 35,317 shares of the industrial products company’s stock valued at $577,000 after buying an additional 5,635 shares in the last quarter. 99.40% of the stock is currently owned by institutional investors.
Shares of General Cable Corporation (BGC) opened at 17.90 on Friday. General Cable Corporation has a 1-year low of $11.70 and a 1-year high of $20.80. The firm’s 50 day moving average is $17.50 and its 200 day moving average is $17.35. The firm’s market capitalization is $890.60 million.
General Cable Corporation (NYSE:BGC) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.12. The company had revenue of $943.10 million for the quarter. General Cable Corporation had a positive return on equity of 13.47% and a negative net margin of 4.80%. Analysts anticipate that General Cable Corporation will post $0.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 4.02%. General Cable Corporation’s payout ratio is presently -20.17%.
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Separately, BidaskClub raised shares of General Cable Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. General Cable Corporation presently has a consensus rating of “Hold”.
About General Cable Corporation
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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