General Cable Corporation (NYSE:BGC) Shares Bought by BlackRock Inc.

BlackRock Inc. boosted its stake in General Cable Corporation (NYSE:BGC) by 60,712.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 6,002,799 shares of the industrial products company’s stock after buying an additional 5,992,928 shares during the period. BlackRock Inc. owned approximately 12.10% of General Cable Corporation worth $107,750,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in General Cable Corporation by 1,517.6% in the first quarter. IFP Advisors Inc now owns 9,997 shares of the industrial products company’s stock valued at $179,000 after buying an additional 9,379 shares during the period. Mason Street Advisors LLC boosted 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 valued at $208,000 after buying an additional 819 shares during the period. Chicago Equity Partners LLC bought a new stake in General Cable Corporation during the first quarter valued at $232,000. Hartford Investment Management Co. boosted its stake in General Cable Corporation by 17.6% in the first quarter. Hartford Investment Management Co. now owns 14,040 shares of the industrial products company’s stock valued at $252,000 after buying an additional 2,100 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in General Cable Corporation by 46.2% in the first quarter. Nisa Investment Advisors LLC now owns 14,620 shares of the industrial products company’s stock valued at $262,000 after buying an additional 4,620 shares in the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.

General Cable Corporation (NYSE:BGC) opened at 16.70 on Friday. General Cable Corporation has a 12-month low of $11.70 and a 12-month high of $20.80. The company’s market cap is $830.89 million. The company’s 50 day moving average is $17.80 and its 200 day moving average is $17.26.

General Cable Corporation (NYSE:BGC) last announced 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. General Cable Corporation had a negative net margin of 4.80% and a positive return on equity of 13.47%. The firm had revenue of $943.10 million during the quarter. Analysts forecast that General Cable Corporation will post $0.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Thursday, September 7th. General Cable Corporation’s dividend payout ratio is currently -20.17%.

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Separately, BidaskClub raised shares of General Cable Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. General Cable Corporation has an average rating of “Hold”.

About General Cable Corporation

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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