General Cable Target of Unusually Large Options Trading (BGC)
General Cable Corporation (NYSE:BGC) saw unusually large options trading activity on Monday. Stock traders acquired 664 put options on the stock. This is an increase of approximately 971% compared to the average daily volume of 62 put options.
Separately, BidaskClub downgraded shares of General Cable from a “buy” rating to a “hold” rating in a research report on Monday, August 14th.
Shares of General Cable (NYSE:BGC) opened at $29.90 on Thursday. The firm has a market cap of $1,471.46, a PE ratio of 43.31 and a beta of 2.89. General Cable has a 1 year low of $14.95 and a 1 year high of $30.00. The company has a debt-to-equity ratio of 8.42, a current ratio of 1.98 and a quick ratio of 1.10.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, December 7th. General Cable’s payout ratio is currently -20.22%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of General Cable by 11.7% in the 1st quarter. Geode Capital Management LLC now owns 386,417 shares of the industrial products company’s stock valued at $6,936,000 after buying an additional 40,338 shares during the period. State Street Corp boosted its holdings in shares of General Cable by 5.5% in the 1st quarter. State Street Corp now owns 1,194,415 shares of the industrial products company’s stock valued at $21,441,000 after buying an additional 62,580 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of General Cable by 79.0% in the 2nd 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. Aperio Group LLC boosted its holdings in shares of General Cable by 19.0% in the 2nd quarter. Aperio Group LLC now owns 35,317 shares of the industrial products company’s stock valued at $577,000 after buying an additional 5,635 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in shares of General Cable by 4.2% in the 2nd 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. 98.38% of the stock is owned by institutional investors.
TRADEMARK VIOLATION NOTICE: This report was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/12/07/general-cable-target-of-unusually-large-options-trading-bgc.html.
About General Cable
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.
Receive News & Stock Ratings for General Cable Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Cable Corporation and related stocks with our FREE daily email newsletter.