Belden Inc (NYSE:BDC) Stake Increased by BlackRock Inc.
BlackRock Inc. increased its stake in Belden Inc (NYSE:BDC) by 22,743.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,264,460 shares of the industrial products company’s stock after buying an additional 4,245,792 shares during the period. BlackRock Inc. owned about 10.10% of Belden worth $295,057,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in BDC. Russell Investments Group Ltd. bought a new stake in Belden during the fourth quarter valued at $1,332,000. Credit Agricole S A increased its stake in Belden by 16.3% in the fourth quarter. Credit Agricole S A now owns 3,769 shares of the industrial products company’s stock valued at $282,000 after buying an additional 529 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in Belden during the fourth quarter valued at $105,000. GSA Capital Partners LLP bought a new stake in Belden during the fourth quarter valued at $285,000. Finally, Norges Bank bought a new stake in Belden during the fourth quarter valued at $32,808,000.
Belden Inc (BDC) traded down 1.51% on Friday, hitting $72.53. 136,925 shares of the stock traded hands. The stock has a 50-day moving average of $75.24 and a 200-day moving average of $72.56. Belden Inc has a 12-month low of $60.06 and a 12-month high of $81.33. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 31.53 and a beta of 2.28.
Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. Belden had a net margin of 5.53% and a return on equity of 16.31%. The company had revenue of $610.63 million during the quarter, compared to analysts’ expectations of $608.16 million. During the same quarter in the prior year, the company posted $1.54 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Analysts forecast that Belden Inc will post $5.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date was Tuesday, June 13th. Belden’s dividend payout ratio is 8.66%.
Belden announced that its Board of Directors has initiated a share repurchase program on Thursday, May 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the industrial products company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
BDC has been the subject of several research analyst reports. CL King initiated coverage on shares of Belden in a research report on Wednesday, June 21st. They issued a “neutral” rating for the company. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Belden in a research report on Friday, June 23rd. They issued a “buy” rating and a $93.00 target price for the company. Guggenheim initiated coverage on shares of Belden in a research report on Tuesday, July 11th. They issued a “buy” rating and a $90.00 target price for the company. Zacks Investment Research raised shares of Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 target price for the company in a research report on Tuesday, July 11th. Finally, ValuEngine lowered shares of Belden from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Belden presently has an average rating of “Buy” and an average price target of $84.56.
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).
Receive News & Stock Ratings for Belden Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden Inc and related stocks with our FREE daily email newsletter.