Finance

Shares in General Cable Corporation (BGC) Acquired by Impala Asset Management LLC

Shares in General Cable Corporation (BGC) Acquired by Impala Asset Management LLC

The stock ended last trade at $21.80 a share and the price is up more than 14.44% so far this year.

According to General Cable Corporation's latest 13F filing with the US Securities and Exchange Commission (SEC), institutional ownership is at 102.73%. Of those transactions, there were 254,756 shares of BGC bought and 50,513 shares sold. On Monday, in pre-market trade, shares in General Cable were up 36.47% at $29.75. State Of Alaska Department Of Revenue has 0.01% invested in General Cable Corporation (NYSE:BGC) for 9,793 shares. Piedmont Investment Advisors LLC purchased a new stake in General Cable during the second quarter valued at about $175,000. Municipal Employees Retirement System of MI raised its holdings in shares of General Cable by 4.2% in the 2nd quarter. The stock tapped a 52-week high of US$25.08 while the mean 12-month price target for the shares is US$20.08. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of General Cable in the 3rd quarter worth approximately $246,000.

The transaction, which has been unanimously approved by each company's Board of Directors and recommended to its shareholders by General Cable's Board of Directors, is expected to close by the third quarter of 2018, subject to the approval of General Cable's shareholders representing at least a majority of the outstanding shares, regulatory approvals, and other customary conditions. For the current quarter General Cable Corp (NYSE:BGC) has high EPS estimates of $0.22 in contradiction of low EPS estimates of $0.22. The stock has a beta value of 2.92. Companies with a high P/E ratio are typically growth stocks. General Cable Corporation has had 0 insider trades in the last 3 months, including 0 open market buys and 0 sells. For the past 5 years, the company's revenue has grown 0%, while the company's earnings per share has grown 0%. General Cable had a positive return on equity of 43.57% and a negative net margin of 4.71%. For the current year the company's revenue estimates are $3.85 Billion compared to low analyst estimates of $3.85 Billion and high estimates of $3.85 Billion according to 1 number of analysts. During the same period in the prior year, the firm posted $0.07 EPS. The shares price has positioned 71.72% up over the past quarter while it has directed 71.72% toward a rising position throughout past six months.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th.

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Shares in Prysmian were down 0.07% at €28.48 on the Milan bourse.

CL King "Initiates Coverage On" General Cable Corp (NYSE:BGC) in a research note issued to investors on 12/01/16 to Neutral with price target of $0.

If you are a shareholder of General Cable and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. General Cable develops, designs, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, specialty, and communications markets. The Company's segments include North America, Europe, Latin America, and Africa/Asia Pacific.