State Street Corp Grows Holdings in General Cable Corporation (NYSE:BGC)


Milan-based Prysmian Group, a global manufacturer of cable for the energy and telecom industries, is acquiring USA rival General Cable in a $3 billion deal. The stock exchanged hands 28.72 Million shares versus average trading capacity of 1.03 Million shares. Parkside Retail Bank Tru has 0% invested in General Cable Corporation (NYSE:BGC) for 38 shares. Citigroup Inc. now owns 215,985 shares of the industrial products company's stock worth $3,531,000 after purchasing an additional 160,295 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in General Cable during the second quarter valued at about $175,000. Its book value per share for the most recent quarter is $2.4 while its price to book ratio for the same period is 9.08, as for as the company's cash per share for the most recent quarter is $1.45, however its price to cash per share ratio for the same period is 15.05. Miller Howard Investments Inc. Municipal Employees Retirement System of MI lifted its holdings in shares of General Cable by 4.2% in the second quarter. Its sales stood at -8.00% a year on average in the period of last five years. Finally, Northern Trust Corp grew its stake in shares of General Cable by 3.2% in the second quarter.

The deal, which is expected to close by the third quarter of next year, would create a group with combined sales of more than 11 billion euros and adjusted core earnings (EBITDA) of about 930 million euros, the companies said in a joint statement. General Cable had 3 analyst reports since August 10, 2015 according to SRatingsIntel. General Cable is one of the largest wire and cable manufacturing companies in the world, operating manufacturing facilities in its core geographical markets, and has sales representation and distribution worldwide. The company has a debt-to-equity ratio of 8.42, a current ratio of 1.98 and a quick ratio of 1.10. The company has Beta Value of 2.92 and ATR value of 1.12. For the past 5 years, the company's revenue has grown 0%, while the company's earnings per share has grown 0%. The consensus mean EPS for the current quarter is at $0.22 derived from a total of 1 estimates from the analysts who have weighed in on projected earnings. General Cable Corporation (NYSE:BGC) has risen 13.14% since December 4, 2016 and is uptrending. General Cable's revenue for the quarter was up 7.5% on a year-over-year basis. While in the same Quarter Previous year, the Actual EPS was $0.05.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. 0 analysts recommended Overweight these shares while 0 recommended Underweight, according to FactSet data. The company was initiated on Thursday, December 1 by CL King. This represents a $0.72 annualized dividend and a dividend yield of 3.30%. General Cable Corporation's institutional ownership is 0%, while its institutional transactions stand at 2.42%.

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General Cable (NYSE:BGC), with headquarters in Highland Heights, Kentucky, is a global provider of the development, design, manufacture, marketing and distribution of aluminum, copper and fiber optic wire and cable products for the energy, communications, transportation, industrial, construction and specialty segments.

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