Lapides Asset Management LLC lowered its stake in Belden Inc. (NYSE:BDC) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 166,000 shares of the industrial products company’s stock after selling 8,000 shares during the period. Belden makes up approximately 2.8% of Lapides Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. Lapides Asset Management LLC’s holdings in Belden were worth $12,810,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Belden by 41.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 718 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Belden by 550.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 2,229 shares during the period. OxFORD Asset Management LLP bought a new position in shares of Belden in the third quarter worth $224,000. Palouse Capital Management Inc. bought a new position in shares of Belden in the third quarter worth $225,000. Finally, Shelton Capital Management bought a new position in shares of Belden in the second quarter worth $242,000.
Belden Inc. (BDC) opened at $69.78 on Tuesday. Belden Inc. has a 12-month low of $64.60 and a 12-month high of $87.14. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.03 and a quick ratio of 1.59. The stock has a market capitalization of $2,856.02, a PE ratio of 50.93 and a beta of 2.29.
Belden (NYSE:BDC) last released its earnings results on Thursday, February 1st. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.15). Belden had a net margin of 3.90% and a return on equity of 18.20%. The business had revenue of $604.88 million during the quarter, compared to the consensus estimate of $648.92 million. During the same quarter in the prior year, the firm earned $1.42 EPS. The business’s revenue was down 1.2% on a year-over-year basis. equities research analysts forecast that Belden Inc. will post 6.09 EPS for the current year.
BDC has been the topic of a number of recent analyst reports. ValuEngine cut Belden from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Cross Research upgraded Belden from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Belden from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Friday, November 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $94.00 target price on shares of Belden in a research report on Friday, December 1st. Finally, Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Belden in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Belden presently has a consensus rating of “Hold” and a consensus price target of $89.50.
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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