Russell Investments Group Ltd. Lowers Position in General Cable Corporation (BGC)
Russell Investments Group Ltd. reduced its stake in shares of General Cable Corporation (NYSE:BGC) by 17.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,833 shares of the industrial products company’s stock after selling 35,675 shares during the period. Russell Investments Group Ltd. owned about 0.33% of General Cable Corporation worth $2,695,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in BGC. Aperio Group LLC increased its position 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. State of Alaska Department of Revenue increased its position in General Cable Corporation by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 9,793 shares of the industrial products company’s stock valued at $160,000 after buying an additional 4,323 shares in the last quarter. Pennsylvania Trust Co bought a new position in General Cable Corporation during the second quarter valued at approximately $331,000. Caxton Associates LP bought a new position in General Cable Corporation during the first quarter valued at approximately $239,000. Finally, Jane Street Group LLC bought a new position in General Cable Corporation during the first quarter valued at approximately $213,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.
General Cable Corporation (NYSE:BGC) traded up 2.06% during trading on Friday, hitting $17.30. 118,783 shares of the company’s stock traded hands. The company’s 50 day moving average price is $17.87 and its 200 day moving average price is $17.12. General Cable Corporation has a 52-week low of $11.70 and a 52-week high of $20.80. The company’s market cap is $860.74 million.
General Cable Corporation (NYSE:BGC) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.12. General Cable Corporation had a negative net margin of 4.80% and a positive return on equity of 13.47%. The business had revenue of $943.10 million for the quarter. Analysts expect that General Cable Corporation will post $0.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Thursday, September 7th. General Cable Corporation’s dividend payout ratio is presently -20.17%.
Separately, BidaskClub downgraded shares of General Cable Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd.
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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