Delphi Management Inc. MA lessened its position in Belden Inc (NYSE:BDC) by 11.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,829 shares of the industrial products company’s stock after selling 2,330 shares during the period. Delphi Management Inc. MA’s holdings in Belden were worth $1,345,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in BDC. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Belden by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 160 shares during the period. Point72 Asia Hong Kong Ltd grew its position in shares of Belden by 799.6% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 1,831 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Belden by 60.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 841 shares during the period. World Asset Management Inc bought a new position in shares of Belden in the 2nd quarter valued at about $201,000. Finally, Riverhead Capital Management LLC grew its position in shares of Belden by 70.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 1,197 shares during the period.
In other Belden news, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $84.75, for a total transaction of $1,459,988.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the transaction, the senior vice president now owns 4,967 shares of the company’s stock, valued at approximately $391,945.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,230 shares of company stock valued at $1,775,189. 1.31% of the stock is owned by company insiders.
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A number of brokerages have recently commented on BDC. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Belden in a research report on Monday, September 25th. Canaccord Genuity reissued a “buy” rating and issued a $83.00 price objective on shares of Belden in a research report on Friday, August 4th. Zacks Investment Research downgraded shares of Belden from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Deutsche Bank AG lifted their target price on shares of Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of Belden from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $85.88.
Shares of Belden Inc (NYSE BDC) traded down 0.37% during mid-day trading on Thursday, hitting $84.13. 89,965 shares of the company traded hands. The firm has a 50-day moving average of $79.29 and a 200-day moving average of $73.95. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 36.58 and a beta of 2.26. Belden Inc has a one year low of $60.06 and a one year high of $86.31.
Belden (NYSE:BDC) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.08. The company had revenue of $610.63 million during the quarter, compared to analyst estimates of $608.16 million. Belden had a net margin of 5.53% and a return on equity of 16.31%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. On average, equities analysts predict that Belden Inc will post $5.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Friday, September 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 annualized dividend and a yield of 0.24%. Belden’s payout ratio is currently 8.66%.
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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