General Cable Corporation (NYSE:BGC)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $29.83 and last traded at $29.45, with a volume of 28720600 shares. The stock had previously closed at $21.80.
Separately, BidaskClub cut General Cable from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd.
The company has a market capitalization of $1,089.23, a price-to-earnings ratio of 32.06 and a beta of 2.89. The company has a debt-to-equity ratio of 8.42, a current ratio of 1.98 and a quick ratio of 1.10.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, December 7th. General Cable’s dividend payout ratio (DPR) is -20.22%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. boosted its holdings in General Cable by 287.8% during the 2nd quarter. Citigroup Inc. now owns 215,985 shares of the industrial products company’s stock valued at $3,531,000 after acquiring an additional 160,295 shares during the period. American Century Companies Inc. boosted its holdings in General Cable by 3.3% during the 2nd quarter. American Century Companies Inc. now owns 273,388 shares of the industrial products company’s stock valued at $4,470,000 after acquiring an additional 8,722 shares during the period. Miller Howard Investments Inc. NY purchased a new position in General Cable during the 3rd quarter valued at $4,524,000. Victory Capital Management Inc. boosted its holdings in General Cable by 13.2% during the 2nd quarter. Victory Capital Management Inc. now owns 3,379,118 shares of the industrial products company’s stock valued at $55,249,000 after acquiring an additional 394,119 shares during the period. Finally, Northern Trust Corp boosted its holdings in General Cable by 3.2% during the 2nd quarter. Northern Trust Corp now owns 658,715 shares of the industrial products company’s stock valued at $10,770,000 after acquiring an additional 20,254 shares during the period. Institutional investors own 98.38% of the company’s stock.
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General Cable Company 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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