Investors Sell General Cable (BGC) on Strength (BGC)

Traders sold shares of General Cable Corporation (NYSE:BGC) on strength during trading on Monday. $46.60 million flowed into the stock on the tick-up and $125.98 million flowed out of the stock on the tick-down, for a money net flow of $79.38 million out of the stock. Of all equities tracked, General Cable had the 0th highest net out-flow for the day. General Cable traded up $7.65 for the day and closed at $29.45

Separately, BidaskClub lowered General Cable from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd.

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 company has a market capitalization of $1,471.46, a price-to-earnings ratio of 43.31 and a beta of 2.89.

General Cable (NYSE:BGC) last posted its earnings results on Wednesday, November 1st. The industrial products company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.08. The company had revenue of $994.00 million during the quarter, compared to analyst estimates of $879.80 million. General Cable had a positive return on equity of 43.57% and a negative net margin of 4.71%. General Cable’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, December 7th. General Cable’s payout ratio is presently -20.22%.

Hedge funds have recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of General Cable by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 25,901 shares of the industrial products company’s stock valued at $423,000 after acquiring an additional 100 shares during the period. Texas Permanent School Fund increased its position in shares of General Cable by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 36,236 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 346 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of General Cable by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,700 shares of the industrial products company’s stock valued at $191,000 after acquiring an additional 470 shares during the period. Columbia Asset Management increased its position in shares of General Cable by 2.5% in the 2nd quarter. Columbia Asset Management now owns 24,575 shares of the industrial products company’s stock valued at $401,000 after acquiring an additional 600 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of General Cable by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,644 shares of the industrial products company’s stock valued at $632,000 after acquiring an additional 753 shares during the period. 98.38% of the stock is currently owned by institutional investors and hedge funds.

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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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