Kellner Capital LLC boosted its stake in General Cable (NYSE:BGC) by 263.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,400 shares of the industrial products company’s stock after buying an additional 91,600 shares during the quarter. General Cable makes up about 2.3% of Kellner Capital LLC’s holdings, making the stock its 17th biggest position. Kellner Capital LLC owned about 0.25% of General Cable worth $3,741,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in General Cable by 2.4% in the 4th quarter. BlackRock Inc. now owns 6,265,298 shares of the industrial products company’s stock valued at $185,454,000 after buying an additional 147,797 shares in the last quarter. Towle & Co. lifted its stake in General Cable by 1.1% in the 4th quarter. Towle & Co. now owns 1,375,844 shares of the industrial products company’s stock valued at $40,725,000 after buying an additional 15,040 shares in the last quarter. Gardner Lewis Asset Management L P purchased a new stake in General Cable in the 4th quarter valued at approximately $31,038,000. Renaissance Technologies LLC lifted its stake in General Cable by 184.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,028,600 shares of the industrial products company’s stock valued at $30,447,000 after buying an additional 666,900 shares in the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in General Cable by 85.3% in the 1st quarter. State of Wisconsin Investment Board now owns 833,700 shares of the industrial products company’s stock valued at $24,678,000 after buying an additional 383,701 shares in the last quarter. 98.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Cable stock opened at $29.85 on Friday. General Cable has a fifty-two week low of $29.87 and a fifty-two week high of $29.90. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 50.51 and a beta of 2.56. The company has a debt-to-equity ratio of 8.52, a quick ratio of 1.26 and a current ratio of 2.26.
General Cable (NYSE:BGC) last issued its quarterly earnings results on Monday, May 7th. The industrial products company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. General Cable had a positive return on equity of 47.12% and a negative net margin of 1.86%. The company had revenue of $1.02 billion for the quarter. During the same period in the prior year, the company earned $0.27 EPS.
General Cable Profile
General Cable Corporation develops, designs, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, specialty, and communications markets. It offers electric utility products, including low- and medium-voltage distribution cables; high- and extra-high voltage power transmission cables; bare overhead conductors; and submarine transmission and distribution cables.
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