QS Investors LLC Acquires 2,233 Shares of Belden Inc (BDC)
QS Investors LLC raised its holdings in Belden Inc (NYSE:BDC) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,940 shares of the industrial products company’s stock after buying an additional 2,233 shares during the period. QS Investors LLC owned about 0.10% of Belden worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in BDC. BlackRock Inc. lifted its stake in shares of Belden by 22,743.7% in the first quarter. BlackRock Inc. now owns 4,264,460 shares of the industrial products company’s stock valued at $295,057,000 after buying an additional 4,245,792 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Belden by 223.2% in the second quarter. Lazard Asset Management LLC now owns 474,831 shares of the industrial products company’s stock valued at $35,816,000 after buying an additional 327,914 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Belden by 1,189.7% in the second quarter. American Century Companies Inc. now owns 246,663 shares of the industrial products company’s stock valued at $18,606,000 after buying an additional 227,538 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Belden by 5.6% in the first quarter. Vanguard Group Inc. now owns 3,554,054 shares of the industrial products company’s stock valued at $245,905,000 after buying an additional 189,152 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Belden by 456.0% in the first quarter. Renaissance Technologies LLC now owns 219,075 shares of the industrial products company’s stock valued at $15,158,000 after buying an additional 179,675 shares in the last quarter.
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Shares of Belden Inc (NYSE BDC) opened at 83.61 on Thursday. Belden Inc has a one year low of $60.06 and a one year high of $83.90. The stock has a 50 day moving average of $77.44 and a 200 day moving average of $73.35. The stock has a market cap of $3.54 billion, a P/E ratio of 36.35 and a beta of 2.26.
Belden (NYSE:BDC) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $608.16 million. During the same quarter in the previous year, the business posted $1.54 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts forecast that Belden Inc will post $5.44 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Thursday, September 14th. Belden’s dividend payout ratio (DPR) is presently 8.66%.
A number of research analysts have weighed in on BDC shares. Guggenheim started coverage on shares of Belden in a research note on Tuesday, July 11th. They issued a “buy” rating and a $90.00 price objective on the stock. Goldman Sachs Group, Inc. (The) started coverage on shares of Belden in a research note on Friday, June 23rd. They issued a “buy” rating and a $93.00 price objective on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $88.00 price objective (up from $83.00) on shares of Belden in a research note on Wednesday, September 13th. ValuEngine raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Finally, Deutsche Bank AG raised their price objective on shares of Belden from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $85.88.
In other news, SVP Paul Keith Turner sold 3,709 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the sale, the senior vice president now owns 4,967 shares in the company, valued at approximately $391,945.97. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.31% of the company’s stock.
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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