Cornerstone Capital Management Holdings LLC. trimmed its stake in shares of General Cable Corporation (NYSE:BGC) by 17.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,413 shares of the industrial products company’s stock after selling 66,900 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.64% of General Cable Corporation worth $5,189,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BGC. First Trust Advisors LP boosted 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 acquiring an additional 15,510 shares during the period. Bank of New York Mellon Corp boosted 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 acquiring an additional 15,591 shares during the period. Comerica Bank boosted its position in shares of General Cable Corporation by 4.3% in the first quarter. Comerica Bank now owns 55,058 shares of the industrial products company’s stock valued at $1,030,000 after acquiring an additional 2,256 shares during the period. Swiss National Bank boosted its position in shares of General Cable Corporation by 2.8% in the first quarter. Swiss National Bank now owns 81,300 shares of the industrial products company’s stock valued at $1,459,000 after acquiring an additional 2,200 shares during the period. Finally, Karp Capital Management Corp bought a new stake in shares of General Cable Corporation in the first quarter valued at about $533,000. 98.14% of the stock is owned by hedge funds and other institutional investors.

Shares of General Cable Corporation (NYSE:BGC) opened at 21.30 on Thursday. General Cable Corporation has a 12 month low of $11.70 and a 12 month high of $21.90. The stock has a 50 day moving average of $18.66 and a 200-day moving average of $17.59. The company’s market cap is $1.06 billion.

General Cable Corporation (NYSE:BGC) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share 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 firm had revenue of $943.10 million during the quarter. Equities analysts forecast that General Cable Corporation will post $0.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Thursday, September 7th. General Cable Corporation’s dividend payout ratio (DPR) is currently -20.17%.

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

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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.

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

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