Prudential Financial Inc. increased its stake in General Cable Corporation (NYSE:BGC) by 71.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,873 shares of the industrial products company’s stock after buying an additional 60,210 shares during the period. Prudential Financial Inc. owned 0.29% of General Cable Corporation worth $2,369,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in General Cable Corporation by 0.4% in the second quarter. Arizona State Retirement System now owns 25,901 shares of the industrial products company’s stock worth $423,000 after buying an additional 100 shares in the last quarter. Texas Permanent School Fund raised its stake in General Cable Corporation by 1.0% in the second quarter. Texas Permanent School Fund now owns 36,236 shares of the industrial products company’s stock worth $592,000 after buying an additional 346 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in 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 worth $191,000 after buying an additional 470 shares in the last quarter. Mason Street Advisors LLC raised 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 worth $208,000 after buying an additional 819 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in General Cable Corporation by 1.0% in the second quarter. Rhumbline Advisers now owns 97,464 shares of the industrial products company’s stock worth $1,594,000 after buying an additional 1,002 shares in the last quarter. 98.14% of the stock is owned by institutional investors.

Separately, BidaskClub downgraded shares of General Cable Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd.

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General Cable Corporation (NYSE BGC) opened at 19.20 on Thursday. The company’s market capitalization is $955.28 million. General Cable Corporation has a 1-year low of $11.70 and a 1-year high of $20.80. The company has a 50-day moving average of $17.81 and a 200-day moving average of $17.25.

General Cable Corporation (NYSE:BGC) last released its quarterly earnings data 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). 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 expect that General Cable Corporation will post $0.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.18 dividend. The ex-dividend date is Thursday, September 7th. This represents a $0.72 annualized dividend and a yield of 3.78%. General Cable Corporation’s dividend payout ratio (DPR) is -20.17%.

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

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