Dimensional Fund Advisors LP Sells 559,035 Shares of General Cable Corporation (BGC)

Dimensional Fund Advisors LP trimmed its holdings in General Cable Corporation (NYSE:BGC) by 23.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,829,145 shares of the industrial products company’s stock after selling 559,035 shares during the period. Dimensional Fund Advisors LP owned 3.68% of General Cable Corporation worth $29,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BGC. Principal Financial Group Inc. raised its position in shares of General Cable Corporation by 4.2% in the first quarter. Principal Financial Group Inc. now owns 376,778 shares of the industrial products company’s stock valued at $6,763,000 after buying an additional 15,255 shares during the last quarter. Thrivent Financial For Lutherans raised its position in shares of General Cable Corporation by 6.6% in the first quarter. Thrivent Financial For Lutherans now owns 28,430 shares of the industrial products company’s stock valued at $510,000 after buying an additional 1,760 shares during the last quarter. Vanguard Group Inc. raised its position in shares of General Cable Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 8,286,764 shares of the industrial products company’s stock valued at $148,748,000 after buying an additional 433,933 shares during the last quarter. Geode Capital Management LLC raised its position in shares of General Cable Corporation by 11.7% in the first quarter. Geode Capital Management LLC now owns 386,417 shares of the industrial products company’s stock valued at $6,936,000 after buying an additional 40,338 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of General Cable Corporation by 17.0% in the first quarter. Renaissance Technologies LLC now owns 445,500 shares of the industrial products company’s stock valued at $7,997,000 after buying an additional 64,700 shares during the last quarter. Institutional investors and hedge funds own 97.65% of the company’s stock.

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General Cable Corporation (NYSE:BGC) last released its earnings results on Wednesday, November 1st. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.08. The company had revenue of $994.00 million for the quarter, compared to analyst estimates of $879.80 million. General Cable Corporation had a negative net margin of 4.80% and a positive return on equity of 13.47%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.72 dividend on an annualized basis and a yield of 3.44%. General Cable Corporation’s dividend payout ratio (DPR) is -20.17%.

Separately, BidaskClub cut shares of General Cable Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd.

General Cable Corporation 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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Institutional Ownership by Quarter for General Cable Corporation (NYSE:BGC)

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