Systematic Financial Management LP Reduces Position in General Cable Corporation (BGC)

Systematic Financial Management LP lowered its holdings in shares of General Cable Corporation (NYSE:BGC) by 74.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,055 shares of the industrial products company’s stock after selling 547,026 shares during the period. Systematic Financial Management LP owned approximately 0.38% of General Cable Corporation worth $3,124,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake in General Cable Corporation by 32.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 757,255 shares of the industrial products company’s stock worth $13,593,000 after acquiring an additional 187,312 shares in the last quarter. Victory Capital Management Inc. boosted its stake in General Cable Corporation by 13.2% during 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 acquiring an additional 394,119 shares in the last quarter. Renaissance Technologies LLC boosted its stake in General Cable Corporation by 17.0% during the first quarter. Renaissance Technologies LLC now owns 445,500 shares of the industrial products company’s stock worth $7,997,000 after acquiring an additional 64,700 shares in the last quarter. Bank of Montreal Can boosted its stake in General Cable Corporation by 1.9% during the first quarter. Bank of Montreal Can now owns 25,999 shares of the industrial products company’s stock worth $467,000 after acquiring an additional 491 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its stake in General Cable Corporation by 7.6% during the first quarter. Mason Street Advisors LLC now owns 11,591 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 819 shares in the last quarter. 98.89% of the stock is currently owned by institutional investors and hedge funds.

Separately, BidaskClub upgraded shares of General Cable Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 4th.

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General Cable Corporation (NYSE:BGC) opened at 17.90 on Wednesday. General Cable Corporation has a 52 week low of $11.70 and a 52 week high of $20.80. The company’s market cap is $890.60 million. The stock has a 50 day moving average of $17.79 and a 200 day moving average of $17.17.

General Cable Corporation (NYSE:BGC) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.12). General Cable Corporation had a negative net margin of 4.80% and a positive return on equity of 13.47%. The firm had revenue of $943.10 million during the quarter. On average, analysts expect that General Cable Corporation will post $0.75 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, September 7th. General Cable Corporation’s dividend payout ratio is currently -20.17%.

About General Cable Corporation

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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