Dimensional Fund Advisors LP Lowers Stake in General Cable Corporation (NYSE:BGC)

Dimensional Fund Advisors LP decreased its stake in shares of General Cable Corporation (NYSE:BGC) by 10.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,388,180 shares of the industrial products company’s stock after selling 271,167 shares during the period. Dimensional Fund Advisors LP owned approximately 4.81% of General Cable Corporation worth $42,868,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BGC. IFP Advisors Inc raised its position in shares of 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 in the last quarter. Sanders Morris Harris Inc. acquired a new position in shares of General Cable Corporation during the first quarter valued at $1,711,000. Hartford Investment Management Co. raised its position in shares of 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 in the last quarter. Nisa Investment Advisors LLC raised its position in shares of 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. Finally, Louisiana State Employees Retirement System raised its position in shares of General Cable Corporation by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,200 shares of the industrial products company’s stock valued at $363,000 after buying an additional 400 shares in the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.

General Cable Corporation (BGC) traded up 1.42% during midday trading on Wednesday, reaching $17.90. 1,190,993 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $17.68 and its 200 day moving average price is $17.27. General Cable Corporation has a 1-year low of $11.70 and a 1-year high of $20.80. The firm’s market cap is $890.60 million.

General Cable Corporation (NYSE:BGC) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $943.10 million for the quarter. Equities research analysts anticipate that General Cable Corporation will post $0.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.02%. General Cable Corporation’s payout ratio is presently -20.17%.

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