General Cable Corporation (NYSE:BGC) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Monday.

Shares of General Cable Corporation (NYSE:BGC) traded up 2.59% during mid-day trading on Monday, hitting $17.85. The stock had a trading volume of 689,911 shares. The firm’s market cap is $888.11 million. The firm has a 50 day moving average price of $17.62 and a 200 day moving average price of $17.29. General Cable Corporation has a 52-week low of $11.70 and a 52-week high of $20.80.

General Cable Corporation (NYSE:BGC) last issued its quarterly earnings results 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 during the quarter. General Cable Corporation had a negative net margin of 4.80% and a positive return on equity of 13.47%. Equities analysts predict that General Cable Corporation will post $0.75 EPS for the current year.

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A number of institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its position in shares of 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 during the period. IFP Advisors Inc boosted its position in shares of General Cable Corporation by 1,517.6% in the first quarter. IFP Advisors Inc now owns 9,997 shares of the industrial products company’s stock valued at $179,000 after buying an additional 9,379 shares during the period. Quantum Capital Management bought a new position in shares of General Cable Corporation during the second quarter valued at about $182,000. Mason Street Advisors LLC boosted its position in shares of 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 period. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of 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 during the period. Hedge funds and other institutional investors own 99.40% of the company’s stock.

General Cable Corporation Company Profile

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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