Fondren Management LP reduced its position in General Cable Co. (NYSE:BGC) by 38.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 40,000 shares of the industrial products company’s stock after selling 25,000 shares during the quarter. General Cable comprises approximately 0.8% of Fondren Management LP’s investment portfolio, making the stock its 23rd biggest position. Fondren Management LP’s holdings in General Cable were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of BGC. BlackRock Inc. raised its stake in General Cable by 2.4% during the fourth quarter. BlackRock Inc. now owns 6,265,298 shares of the industrial products company’s stock worth $185,454,000 after acquiring an additional 147,797 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in General Cable by 271.7% during the third quarter. Deprince Race & Zollo Inc. now owns 2,076,157 shares of the industrial products company’s stock worth $39,136,000 after acquiring an additional 1,517,551 shares in the last quarter. Towle & Co. raised its stake in General Cable by 1.1% during the fourth quarter. Towle & Co. now owns 1,375,844 shares of the industrial products company’s stock worth $40,725,000 after acquiring an additional 15,040 shares in the last quarter. State Street Corp raised its stake in General Cable by 3.5% during the second quarter. State Street Corp now owns 1,236,130 shares of the industrial products company’s stock worth $20,210,000 after acquiring an additional 41,715 shares in the last quarter. Finally, Highbridge Capital Management LLC raised its stake in General Cable by 303.6% during the third quarter. Highbridge Capital Management LLC now owns 1,109,879 shares of the industrial products company’s stock worth $20,921,000 after acquiring an additional 834,897 shares in the last quarter. 98.38% of the stock is owned by hedge funds and other institutional investors.
General Cable Co. (NYSE:BGC) opened at $29.85 on Wednesday. The company has a debt-to-equity ratio of 7.88, a quick ratio of 1.08 and a current ratio of 2.01. General Cable Co. has a 12 month low of $14.95 and a 12 month high of $30.17. The stock has a market capitalization of $1,501.10, a price-to-earnings ratio of 44.92 and a beta of 2.63.
General Cable (NYSE:BGC) last released its quarterly earnings data on Monday, February 26th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.19). General Cable had a positive return on equity of 45.96% and a negative net margin of 1.48%. The company had revenue of $981.90 million for the quarter, compared to analyst estimates of $993.30 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, March 8th. This represents a $0.72 annualized dividend and a yield of 2.41%. General Cable’s dividend payout ratio is currently -62.61%.
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General Cable 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.
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