Metropolitan Life Insurance Co. NY reduced its stake in General Cable Corporation (NYSE:BGC) by 98.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,809 shares of the industrial products company’s stock after selling 1,795,000 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in General Cable Corporation were worth $643,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its stake in General Cable Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the industrial products company’s stock valued at $363,000 after buying an additional 400 shares during the last quarter. Arizona State Retirement System increased its stake in General Cable Corporation by 1.6% in the first quarter. Arizona State Retirement System now owns 25,801 shares of the industrial products company’s stock valued at $463,000 after buying an additional 400 shares during the last quarter. Bank of Montreal Can increased its stake in General Cable Corporation by 1.9% in the first quarter. Bank of Montreal Can now owns 25,999 shares of the industrial products company’s stock valued at $467,000 after buying an additional 491 shares during the last quarter. Mason Street Advisors LLC increased its stake in General Cable Corporation by 7.6% in the first quarter. Mason Street Advisors LLC now owns 11,591 shares of the industrial products company’s stock valued at $208,000 after buying an additional 819 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in General Cable Corporation by 5.7% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 29,866 shares of the industrial products company’s stock valued at $536,000 after buying an additional 1,608 shares during the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.

Shares of General Cable Corporation (NYSE BGC) traded down 1.87% during midday trading on Monday, reaching $18.40. 95,801 shares of the company’s stock were exchanged. The company’s market capitalization is $915.47 million. General Cable Corporation has a 1-year low of $11.70 and a 1-year high of $20.80. The firm has a 50-day moving average of $17.10 and a 200-day moving average of $17.34.

General Cable Corporation (NYSE:BGC) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share for the quarter, missing the Zacks’ 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 during the quarter. Equities analysts expect that General Cable Corporation will post $1.00 earnings per share for the current fiscal year.

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Separately, BidaskClub raised shares of General Cable Corporation from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. General Cable Corporation presently has an average 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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Institutional Ownership by Quarter for General Cable Corporation (NYSE:BGC)

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