General Cable Corporation (BGC) Stake Held by State of Tennessee Treasury Department

General Cable Corporation (BGC) Stake Held by State of Tennessee Treasury Department

State of Tennessee Treasury Department held its position in General Cable Corporation (NYSE:BGC) during the third quarter, Holdings Channel reports. The institutional investor owned 38,917 shares of the company’s stock at the end of the third quarter. State of Tennessee Treasury Department owned about 0.08% of General Cable Corporation worth $583,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its position in shares of General Cable Corporation by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 10,930 shares of the company’s stock valued at $164,000 after buying an additional 180 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of General Cable Corporation by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,346,763 shares of the company’s stock valued at $20,175,000 after buying an additional 31,555 shares during the last quarter. BlackRock Group LTD boosted its position in shares of General Cable Corporation by 5.1% in the third quarter. BlackRock Group LTD now owns 96,922 shares of the company’s stock valued at $1,452,000 after buying an additional 4,735 shares during the last quarter. Rhumbline Advisers boosted its position in shares of General Cable Corporation by 5.2% in the third quarter. Rhumbline Advisers now owns 66,325 shares of the company’s stock valued at $994,000 after buying an additional 3,300 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of General Cable Corporation by 17.3% in the third quarter. Teachers Advisors LLC now owns 88,796 shares of the company’s stock valued at $1,330,000 after buying an additional 13,070 shares during the last quarter. 99.97% of the stock is owned by institutional investors.

Shares of General Cable Corporation (NYSE:BGC) traded down 2.93% during trading on Friday, reaching $19.85. 305,087 shares of the company’s stock were exchanged. The company’s market capitalization is $978.53 million. The company has a 50 day moving average price of $19.50 and a 200-day moving average price of $16.36. General Cable Corporation has a 52-week low of $6.22 and a 52-week high of $20.80.

General Cable Corporation (NYSE:BGC) last announced its earnings results on Wednesday, November 2nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.26 by $0.19. The firm earned $924.50 million during the quarter, compared to the consensus estimate of $925 million. General Cable Corporation had a positive return on equity of 33.36% and a negative net margin of 0.98%. The business’s revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 EPS. On average, equities analysts forecast that General Cable Corporation will post $0.70 earnings per share for the current year.

Several brokerages have recently commented on BGC. CL King began coverage on shares of General Cable Corporation in a research report on Thursday, December 1st. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of General Cable Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 5th. Finally, DA Davidson reaffirmed a “hold” rating on shares of General Cable Corporation in a research report on Monday, November 7th.

General Cable Corporation 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.

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