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

Investors 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 6th highest net out-flow for the day. General Cable traded up $7.65 for the day and closed at $29.45

Separately, BidaskClub cut shares of General Cable from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd.

The company has a market cap of $1,089.23, a P/E ratio of 32.06 and a beta of 2.89. The company has a current ratio of 1.98, a quick ratio of 1.10 and a debt-to-equity ratio of 8.42.

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, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.08. The company had revenue of $994.00 million during the quarter, compared to analysts’ expectations of $879.80 million. General Cable had a negative net margin of 4.71% and a positive return on equity of 43.57%. General Cable’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $0.07 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.72 annualized dividend and a yield of 2.44%. General Cable’s payout ratio is -20.22%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its stake in General Cable by 79.0% during the second quarter. State of Alaska Department of Revenue now owns 9,793 shares of the industrial products company’s stock valued at $160,000 after acquiring an additional 4,323 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in General Cable during the second quarter valued at $175,000. Quantum Capital Management bought a new position in General Cable during the second quarter valued at $182,000. Municipal Employees Retirement System of Michigan lifted its position in General Cable by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 11,700 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 470 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in General Cable during the third quarter valued at $246,000. 98.38% of the stock is owned by institutional investors.

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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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