Stanley Capital Management LLC Has $5,280,000 Position in Belden Inc (BDC)
Stanley Capital Management LLC maintained its stake in shares of Belden Inc (NYSE:BDC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,000 shares of the industrial products company’s stock at the close of the second quarter. Belden comprises approximately 3.3% of Stanley Capital Management LLC’s holdings, making the stock its 11th biggest holding. Stanley Capital Management LLC owned about 0.17% of Belden worth $5,280,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Belden by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 160 shares in the last quarter. Point72 Asia Hong Kong Ltd grew its position in Belden by 799.6% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 1,831 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Belden by 60.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 841 shares in the last quarter. World Asset Management Inc purchased a new position in Belden in the second quarter worth $201,000. Finally, Riverhead Capital Management LLC grew its position in Belden by 70.4% in the second quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock worth $218,000 after acquiring an additional 1,197 shares in the last quarter.
Several research analysts recently issued reports on BDC shares. 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. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Belden in a research report on Friday, June 23rd. They set a “buy” rating and a $93.00 price target for the company. ValuEngine lowered shares of Belden from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. CL King initiated coverage on shares of Belden in a research report on Wednesday, June 21st. They set a “neutral” rating for the company. Finally, Zacks Investment Research upgraded shares of Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 price target for the company in a research report on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $85.25.
Belden Inc (NYSE:BDC) traded up 0.741% during mid-day trading on Wednesday, reaching $79.515. 36,275 shares of the company’s stock traded hands. Belden Inc has a one year low of $60.06 and a one year high of $81.33. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 34.572 and a beta of 2.27. The firm’s 50-day moving average price is $74.02 and its 200 day moving average price is $72.23.
Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, topping 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 firm had revenue of $610.63 million during the quarter, compared to analysts’ expectations of $608.16 million. During the same period in the previous year, the company earned $1.54 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that Belden Inc will post $5.44 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Friday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. Belden’s dividend payout ratio is presently 8.66%.
Belden announced that its board has initiated a stock repurchase plan on Thursday, May 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Belden Company Profile
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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