Zacks Investment Research upgraded shares of General Cable Corp. (NYSE:BGC) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “General Cable Corp. is a leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the communications, energy and electrical markets. The company sells its products primarily to commercial, industrial, utility, telecommunications, original equipment manufacturers, military/government, retail, electrical, and communications distributor customers worldwide. “

Separately, TheStreet raised shares of General Cable Corp. from a sell rating to a hold rating in a report on Monday, August 29th.

General Cable Corp. (NYSE:BGC) traded down 1.06% during midday trading on Wednesday, hitting $14.96. The stock had a trading volume of 18,737 shares. The company’s market capitalization is $737.35 million. General Cable Corp. has a 1-year low of $6.22 and a 1-year high of $16.46. The stock’s 50-day moving average is $15.05 and its 200-day moving average is $14.09.

General Cable Corp. (NYSE:BGC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business had revenue of $990 million for the quarter, compared to analysts’ expectations of $991.77 million. General Cable Corp. had a negative net margin of 1.33% and a positive return on equity of 34.01%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. Equities research analysts forecast that General Cable Corp. will post $0.89 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, September 7th. This represents a $0.72 annualized dividend and a dividend yield of 4.76%. General Cable Corp.’s payout ratio is currently -65.45%.

Several large investors have recently bought and sold shares of BGC. GSA Capital Partners LLP increased its position in General Cable Corp. by 62.3% in the second quarter. GSA Capital Partners LLP now owns 90,675 shares of the company’s stock worth $1,152,000 after buying an additional 34,797 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in General Cable Corp. by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,247,077 shares of the company’s stock worth $15,227,000 after buying an additional 12,763 shares in the last quarter. SECOR Capital Advisors LP increased its position in General Cable Corp. by 123.6% in the second quarter. SECOR Capital Advisors LP now owns 46,410 shares of the company’s stock worth $590,000 after buying an additional 25,653 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in General Cable Corp. during the second quarter worth about $661,000. Finally, Norges Bank acquired a new position in General Cable Corp. during the fourth quarter worth about $10,831,000. Institutional investors and hedge funds own 98.44% of the company’s stock.

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.

5 Day Chart for NYSE:BGC

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