General Cable Co. (BGC) Stake Maintained by New York State Teachers Retirement System

New York State Teachers Retirement System continued to hold its position in shares of General Cable Co. (NYSE:BGC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,702 shares of the company’s stock at the end of the fourth quarter. New York State Teachers Retirement System’s holdings in General Cable were worth $1,995,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of BGC. BlackRock Fund Advisors increased its position in shares of General Cable by 8.0% in the third quarter. BlackRock Fund Advisors now owns 3,446,636 shares of the company’s stock valued at $51,631,000 after buying an additional 255,752 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of General Cable by 58.6% in the third quarter. Victory Capital Management Inc. now owns 1,788,496 shares of the company’s stock valued at $26,792,000 after buying an additional 660,861 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of General Cable by 2.1% in the third quarter. Pzena Investment Management LLC now owns 1,708,742 shares of the company’s stock valued at $25,597,000 after buying an additional 34,497 shares during the last quarter. State Street Corp increased its position in shares of General Cable by 6.7% in the fourth quarter. State Street Corp now owns 1,131,835 shares of the company’s stock valued at $21,566,000 after buying an additional 70,615 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of General Cable by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 892,690 shares of the company’s stock valued at $13,372,000 after buying an additional 45,272 shares during the last quarter. 99.89% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for General Cable (NYSE:BGC)

Shares of General Cable Co. (NYSE:BGC) opened at 17.70 on Tuesday. The stock has a 50 day moving average of $17.46 and a 200 day moving average of $16.97. The stock’s market cap is $877.41 million. General Cable Co. has a one year low of $10.38 and a one year high of $20.80.

General Cable (NYSE:BGC) last posted its earnings results on Wednesday, February 8th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.13. General Cable had a positive return on equity of 25.38% and a negative net margin of 2.47%. The firm had revenue of $910 million for the quarter, compared to analyst estimates of $878.28 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities analysts expect that General Cable Co. will post $0.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.72 annualized dividend and a yield of 4.07%. General Cable’s dividend payout ratio is presently -37.50%.

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Separately, CL King initiated coverage on shares of General Cable in a research report on Thursday, December 1st. They set a “neutral” rating on the stock.

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 operates through four segments: North America, Europe, Latin America, and Africa/Asia Pacific.

5 Day Chart for NYSE:BGC

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