Cambridge Investment Research Advisors Inc. continued to hold its position in shares of General Cable Corporation (NYSE:BGC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,012 shares of the industrial products company’s stock at the end of the first quarter. Cambridge Investment Research Advisors Inc.’s holdings in General Cable Corporation were worth $180,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in General Cable Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 8,286,764 shares of the industrial products company’s stock worth $148,748,000 after buying an additional 433,933 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of General Cable Corporation by 5.8% in the first quarter. Victory Capital Management Inc. now owns 2,984,999 shares of the industrial products company’s stock valued at $53,580,000 after buying an additional 164,813 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of General Cable Corporation by 2.0% in the first quarter. Pzena Investment Management LLC now owns 1,726,761 shares of the industrial products company’s stock valued at $30,995,000 after buying an additional 34,611 shares in the last quarter. Royce & Associates LP raised its stake in shares of General Cable Corporation by 7.5% in the first quarter. Royce & Associates LP now owns 1,710,357 shares of the industrial products company’s stock valued at $30,701,000 after buying an additional 119,946 shares in the last quarter. Finally, State Street Corp increased its position in General Cable Corporation by 6.7% in the fourth quarter. State Street Corp now owns 1,131,835 shares of the industrial products company’s stock valued at $21,566,000 after buying an additional 70,615 shares during the last quarter. 99.46% of the stock is owned by hedge funds and other institutional investors.
General Cable Corporation (BGC) traded up 1.60% during mid-day trading on Friday, reaching $19.10. 504,991 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $17.00 and a 200-day moving average of $17.36. The firm’s market cap is $947.95 million. General Cable Corporation has a 12 month low of $11.70 and a 12 month high of $20.80.
General Cable Corporation (NYSE:BGC) last released its earnings results on Wednesday, May 3rd. The industrial products company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.11. General Cable Corporation had a negative net margin of 2.05% and a positive return on equity of 15.49%. The company had revenue of $918.20 million for the quarter, compared to analysts’ expectations of $895.58 million. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. Analysts anticipate that General Cable Corporation will post $1.00 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 9th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.77%. The ex-dividend date was Wednesday, June 7th. General Cable Corporation’s payout ratio is -45.57%.
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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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