Gabelli Funds LLC grew its stake in shares of General Cable Co. (NYSE:BGC) by 56.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,031,893 shares of the industrial products company’s stock after purchasing an additional 372,423 shares during the period. Gabelli Funds LLC owned approximately 2.04% of General Cable worth $30,544,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of BGC. Gardner Lewis Asset Management L P purchased a new stake in shares of General Cable during the 4th quarter worth $31,038,000. Renaissance Technologies LLC raised its stake in shares of General Cable by 184.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,028,600 shares of the industrial products company’s stock worth $30,447,000 after buying an additional 666,900 shares during the last quarter. Miura Global Management LLC acquired a new position in shares of General Cable during the 4th quarter worth $17,760,000. State of Wisconsin Investment Board acquired a new position in shares of General Cable during the 4th quarter worth $13,320,000. Finally, Nuance Investments LLC acquired a new position in shares of General Cable during the 4th quarter worth $11,729,000.
General Cable opened at $29.85 on Thursday, MarketBeat.com reports. The firm has a market cap of $1.48 billion, a PE ratio of 49.41 and a beta of 2.56. The company has a debt-to-equity ratio of 8.52, a current ratio of 2.26 and a quick ratio of 1.26. General Cable Co. has a 52-week low of $14.95 and a 52-week high of $30.17.
General Cable (NYSE:BGC) last released its quarterly earnings results on Monday, May 7th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.05. The business had revenue of $1.02 billion during the quarter. General Cable had a positive return on equity of 47.12% and a negative net margin of 1.86%. During the same period last year, the firm earned $0.27 EPS.
About General Cable
General Cable Corporation develops, designs, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, specialty, and communications markets. It offers electric utility products, including low- and medium-voltage distribution cables; high- and extra-high voltage power transmission cables; bare overhead conductors; and submarine transmission and distribution cables.
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