Trade Report: Today, General Cable Corp. (BGC) Position Maintained by Louisiana State Employees Retirement System

Today, General Cable Corp. (BGC) Position Maintained by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System maintained its stake in shares of General Cable Corp. (NYSE:BGC) during the third quarter, Holdings Channel reports. The firm owned 21,800 shares of the company’s stock at the end of the third quarter. Louisiana State Employees Retirement System’s holdings in General Cable Corp. were worth $327,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of General Cable Corp. by 4.6% in the second quarter. Vanguard Group Inc. now owns 7,131,463 shares of the company’s stock valued at $90,641,000 after buying an additional 311,416 shares during the period. BlackRock Fund Advisors boosted its stake in shares of General Cable Corp. by 3.3% in the second quarter. BlackRock Fund Advisors now owns 3,190,884 shares of the company’s stock valued at $40,556,000 after buying an additional 101,317 shares during the period. Systematic Financial Management LP boosted its stake in shares of General Cable Corp. by 691.3% in the second quarter. Systematic Financial Management LP now owns 1,461,440 shares of the company’s stock valued at $18,574,000 after buying an additional 1,276,740 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of General Cable Corp. by 5.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,315,208 shares of the company’s stock valued at $16,716,000 after buying an additional 68,131 shares during the period. Finally, Towle & Co. boosted its stake in shares of General Cable Corp. by 0.5% in the second quarter. Towle & Co. now owns 1,254,608 shares of the company’s stock valued at $15,946,000 after buying an additional 6,260 shares during the period. 99.93% of the stock is owned by institutional investors and hedge funds.

Shares of General Cable Corp. (NYSE:BGC) traded down 1.05% during trading on Friday, hitting $18.85. 217,986 shares of the stock traded hands. General Cable Corp. has a 1-year low of $6.22 and a 1-year high of $19.35. The stock has a 50-day moving average of $15.25 and a 200 day moving average of $14.63. The company’s market cap is $929.23 million.

General Cable Corp. (NYSE:BGC) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.19. The company had revenue of $924.50 million for the quarter, compared to the consensus estimate of $925 million. General Cable Corp. had a negative net margin of 0.98% and a positive return on equity of 33.36%. The company’s revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. On average, equities research analysts predict that General Cable Corp. will post $0.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, December 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.82%. General Cable Corp.’s dividend payout ratio (DPR) is presently -90.00%.

Several brokerages have weighed in on BGC. Zacks Investment Research cut shares of General Cable Corp. from a “hold” rating to a “sell” rating in a research note on Monday, November 7th. TheStreet upgraded shares of General Cable Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 29th. Finally, DA Davidson reiterated a “hold” rating on shares of General Cable Corp. in a research note on Monday, November 7th.

About General Cable Corp.

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 operates through four segments: North America, Europe, Latin America, and Africa/Asia Pacific.

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