Renaissance Technologies LLC raised its stake in shares of General Cable Corporation (NYSE:BGC) by 17.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 445,500 shares of the industrial products company’s stock after buying an additional 64,700 shares during the period. Renaissance Technologies LLC owned about 0.90% of General Cable Corporation worth $7,997,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in General Cable Corporation during the fourth quarter worth $10,250,000. Bank of Montreal Can boosted its position in shares of General Cable Corporation by 1.9% in the first quarter. Bank of Montreal Can now owns 25,999 shares of the industrial products company’s stock valued at $467,000 after buying an additional 491 shares during the last quarter. Sanders Morris Harris Inc. acquired a new position in shares of General Cable Corporation during the first quarter worth about $1,711,000. Mason Street Advisors LLC boosted its position in shares of General Cable Corporation by 7.6% in the first quarter. Mason Street Advisors LLC now owns 11,591 shares of the industrial products company’s stock worth $208,000 after buying an additional 819 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 worth $148,748,000 after buying an additional 433,933 shares in the last quarter. Hedge funds and other institutional investors own 99.40% of the company’s stock.
Shares of General Cable Corporation (NYSE BGC) opened at 17.40 on Friday. General Cable Corporation has a one year low of $11.70 and a one year high of $20.80. The company’s market capitalization is $865.72 million. The company’s 50-day moving average is $17.55 and its 200-day moving average is $17.34.
General Cable Corporation (NYSE:BGC) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.12. The company had revenue of $943.10 million during the quarter. General Cable Corporation had a positive return on equity of 13.47% and a negative net margin of 4.80%. Equities analysts predict that General Cable Corporation will post $0.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.14%. The ex-dividend date is Thursday, September 7th. General Cable Corporation’s dividend payout ratio is currently -20.17%.
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Separately, BidaskClub upgraded shares of General Cable Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. General Cable Corporation presently has a consensus rating of “Hold”.
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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