General Cable Target of Unusually High Options Trading (BGC)

General Cable Corporation (NYSE:BGC) was the target of some unusual options trading on Monday. Investors acquired 664 put options on the company. This is an increase of 971% compared to the average volume of 62 put options.

Separately, BidaskClub lowered General Cable from a “buy” rating to a “hold” rating in a report on Monday, August 14th.

General Cable (NYSE BGC) opened at $29.75 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.98 and a debt-to-equity ratio of 8.42. The firm has a market capitalization of $1,480.00, a PE ratio of 43.97 and a beta of 2.88. General Cable has a 1-year low of $14.95 and a 1-year high of $30.00.

General Cable (NYSE:BGC) last announced its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.08. The business had revenue of $994.00 million for 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%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 earnings per share.

The company also recently disclosed 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 2.42%. The ex-dividend date is Thursday, December 7th. General Cable’s dividend payout ratio is presently -20.22%.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of General Cable by 10.2% in the second quarter. Vanguard Group Inc. now owns 9,133,245 shares of the industrial products company’s stock valued at $149,328,000 after purchasing an additional 846,481 shares during the period. Victory Capital Management Inc. boosted its stake in shares of General Cable by 13.2% in the second quarter. Victory Capital Management Inc. now owns 3,379,118 shares of the industrial products company’s stock worth $55,249,000 after buying an additional 394,119 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of General Cable by 271.7% in 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 buying an additional 1,517,551 shares during the last quarter. Pzena Investment Management LLC boosted its stake in shares of General Cable by 2.4% in the third quarter. Pzena Investment Management LLC now owns 1,751,815 shares of the industrial products company’s stock worth $33,022,000 after buying an additional 40,856 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of General Cable by 2.3% in the second quarter. Royce & Associates LP now owns 1,750,357 shares of the industrial products company’s stock worth $28,618,000 after buying an additional 40,000 shares during the last quarter. 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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