Royce & Associates LP Raises Position in General Cable Corporation (BGC)
Royce & Associates LP boosted its position in shares of General Cable Corporation (NYSE:BGC) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,750,357 shares of the industrial products company’s stock after buying an additional 40,000 shares during the period. Royce & Associates LP owned 3.52% of General Cable Corporation worth $28,618,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of General Cable Corporation by 60,712.5% in the first quarter. BlackRock Inc. now owns 6,002,799 shares of the industrial products company’s stock worth $107,750,000 after buying an additional 5,992,928 shares in the last quarter. Pictet Asset Management Ltd. purchased a new position in shares of General Cable Corporation during the second quarter worth $10,053,000. Deprince Race & Zollo Inc. boosted its position in shares of General Cable Corporation by 860.6% in the second quarter. Deprince Race & Zollo Inc. now owns 558,606 shares of the industrial products company’s stock worth $9,133,000 after buying an additional 500,452 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of General Cable Corporation by 13.2% in the second quarter. Victory Capital Management Inc. now owns 3,379,118 shares of the industrial products company’s stock worth $55,249,000 after buying an additional 394,119 shares in the last quarter. 98.89% of the stock is currently owned by institutional investors.
General Cable Corporation (BGC) opened at 17.00 on Monday. General Cable Corporation has a one year low of $11.70 and a one year high of $20.80. The stock’s market capitalization is $845.82 million. The company’s 50 day moving average price is $17.80 and its 200-day moving average price is $17.14.
General Cable Corporation (NYSE:BGC) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.12. The company had revenue of $943.10 million for the quarter. General Cable Corporation had a positive return on equity of 13.47% and a negative net margin of 4.80%. Analysts expect that General Cable Corporation will post $0.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Thursday, September 7th. General Cable Corporation’s dividend payout ratio is currently -20.17%.
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Separately, BidaskClub raised General Cable Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. General Cable Corporation presently has a consensus rating of “Hold”.
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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