Victory Capital Management Inc. boosted its stake in General Cable Corporation (NYSE:BGC) by 13.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,379,118 shares of the industrial products company’s stock after buying an additional 394,119 shares during the period. Victory Capital Management Inc. owned approximately 6.79% of General Cable Corporation worth $55,249,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of General Cable Corporation by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 887,301 shares of the industrial products company’s stock valued at $15,927,000 after buying an additional 15,591 shares during the period. American Century Companies Inc. increased its position in shares of General Cable Corporation by 3.2% in the first quarter. American Century Companies Inc. now owns 264,666 shares of the industrial products company’s stock valued at $4,751,000 after buying an additional 8,090 shares during the period. Algert Global LLC increased its position in shares of General Cable Corporation by 103.5% in the first quarter. Algert Global LLC now owns 140,302 shares of the industrial products company’s stock valued at $2,518,000 after buying an additional 71,370 shares during the period. First Trust Advisors LP increased its position in shares of General Cable Corporation by 40.7% in the first quarter. First Trust Advisors LP now owns 53,628 shares of the industrial products company’s stock valued at $963,000 after buying an additional 15,510 shares during the period. Finally, Chicago Equity Partners LLC bought a new position in shares of General Cable Corporation during the first quarter valued at about $232,000. 98.89% of the stock is currently owned by institutional investors and hedge funds.

General Cable Corporation (BGC) opened at 17.00 on Monday. The firm’s market cap is $845.82 million. The company’s 50-day moving average is $17.80 and its 200 day moving average is $17.14. 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 posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.12. General Cable Corporation had a positive return on equity of 13.47% and a negative net margin of 4.80%. The company had revenue of $943.10 million for the quarter. Equities research analysts expect that General Cable Corporation will post $0.75 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 4.24%. General Cable Corporation’s payout ratio is -20.17%.

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Separately, BidaskClub upgraded shares of General Cable Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has an average 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.

Institutional Ownership by Quarter for General Cable Corporation (NYSE:BGC)

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