Towle Co buys $17,639,788 stake in General Cable Corporation (BGC)

General Cable Corporation (BGC) : Towle Co scooped up 6,260 additional shares in General Cable Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 1,254,608 shares of General Cable Corporation which is valued at $17,639,788.General Cable Corporation makes up approximately 3.09% of Towle Co’s portfolio.

Other Hedge Funds, Including , Swiss National Bank boosted its stake in BGC in the latest quarter, The investment management firm added 1,900 additional shares and now holds a total of 82,000 shares of General Cable Corporation which is valued at $1,152,920. Quantitative Investment Management added BGC to its portfolio by purchasing 12,800 company shares during the most recent quarter which is valued at $179,968. General Cable Corporation makes up approx 0.01% of Quantitative Investment Management’s portfolio. Alpha Windward added BGC to its portfolio by purchasing 29,640 company shares during the most recent quarter which is valued at $386,802. General Cable Corporation makes up approx 0.28% of Alpha Windward’s portfolio.

General Cable Corporation opened for trading at $14.71 and hit $15.14 on the upside on Monday, eventually ending the session at $14.9, with a gain of 0.95% or 0.14 points. The heightened volatility saw the trading volume jump to 5,18,632 shares. Company has a market cap of $734 M.

On the company’s financial health, General Cable Corporation reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.31. The company had revenue of $990.00 million for the quarter, compared to analysts expectations of $985.35 million. The company’s revenue was down -11.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.36 EPS.

Investors should note that on Aug 2, 2016, General Cable Corporation announced a cash dividend of $0.1800. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 30, 2016.

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. The Company additionally engages in the design integration and installation on a turnkey basis for products such as high and extra-high voltage terrestrial and submarine systems. The Company’s segments develops designs manufactures markets and distributes copper aluminum and fiber optic wire and cable products for use in the energy industrial construction specialty and communications markets and electric utility electrical infrastructure construction and communications industries. It offers five categories of products such as electric utility electrical infrastructure communications construction and rod mill.

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