Prudential PLC Has $36.73 Million Holdings in Belden Inc (BDC)
Prudential PLC cut its holdings in Belden Inc (NYSE:BDC) by 20.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 486,900 shares of the industrial products company’s stock after selling 126,700 shares during the period. Prudential PLC owned 1.15% of Belden worth $36,727,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. raised its holdings in Belden by 0.7% in the 2nd quarter. BlackRock Inc. now owns 4,296,433 shares of the industrial products company’s stock valued at $324,082,000 after acquiring an additional 31,973 shares during the last quarter. Vanguard Group Inc. raised its holdings in Belden by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,568,140 shares of the industrial products company’s stock valued at $269,145,000 after acquiring an additional 14,086 shares during the last quarter. State Street Corp raised its holdings in Belden by 1.7% in the 1st quarter. State Street Corp now owns 1,370,863 shares of the industrial products company’s stock valued at $94,858,000 after acquiring an additional 22,968 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Belden by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,233,000 shares of the industrial products company’s stock valued at $93,006,000 after acquiring an additional 101,168 shares during the last quarter. Finally, Systematic Financial Management LP raised its holdings in Belden by 31.3% in the 2nd quarter. Systematic Financial Management LP now owns 701,695 shares of the industrial products company’s stock valued at $52,929,000 after acquiring an additional 167,361 shares during the last quarter.
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BDC has been the subject of several analyst reports. Deutsche Bank AG boosted their price target on Belden from $85.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 price objective for the company in a report on Tuesday, July 11th. Canaccord Genuity restated a “buy” rating and set a $88.00 price objective (up from $83.00) on shares of Belden in a report on Wednesday, September 13th. Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of Belden in a report on Monday, September 25th. Finally, ValuEngine downgraded Belden from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.88.
In related news, SVP Paul Keith Turner sold 3,709 shares of Belden stock in a transaction on Friday, September 15th. The shares were sold at an average price of $78.91, for a total value of $292,677.19. Following the transaction, the senior vice president now owns 4,967 shares in the company, valued at approximately $391,945.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.31% of the company’s stock.
Shares of Belden Inc (BDC) traded down 0.08% during mid-day trading on Thursday, reaching $83.54. The company had a trading volume of 16,786 shares. The company’s 50-day moving average is $77.44 and its 200 day moving average is $73.35. The stock has a market capitalization of $3.53 billion, a P/E ratio of 36.32 and a beta of 2.26. Belden Inc has a 52-week low of $60.06 and a 52-week high of $83.90.
Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. The business had revenue of $610.63 million for the quarter, compared to the consensus estimate of $608.16 million. Belden had a net margin of 5.53% and a return on equity of 16.31%. Belden’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 EPS. Analysts anticipate that Belden Inc will post $5.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Friday, September 15th were issued a $0.05 dividend. 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 dividend payout ratio (DPR) is presently 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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