Belden Inc (BDC) Shares Sold by Northern Trust Corp
Northern Trust Corp cut its stake in Belden Inc (NYSE:BDC) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 676,057 shares of the industrial products company’s stock after selling 15,905 shares during the quarter. Northern Trust Corp owned 1.60% of Belden worth $50,995,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC grew its position in Belden by 223.2% during 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 during the period. William Blair Investment Management LLC grew its position in Belden by 8.3% during the second quarter. William Blair Investment Management LLC now owns 338,909 shares of the industrial products company’s stock valued at $25,564,000 after buying an additional 26,047 shares during the period. American Century Companies Inc. grew its position in Belden by 1,189.7% during 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 during the period. Liberty Mutual Group Asset Management Inc. grew its position in Belden by 1.0% during the first quarter. Liberty Mutual Group Asset Management Inc. now owns 19,132 shares of the industrial products company’s stock valued at $1,324,000 after buying an additional 181 shares during the period. Finally, Bank of Nova Scotia bought a new stake in Belden during the first quarter valued at approximately $7,265,000.
Several analysts recently issued reports on BDC shares. Deutsche Bank AG boosted their target price on shares of Belden from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded 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. Canaccord Genuity restated a “buy” rating and set a $88.00 target price (up from $83.00) on shares of Belden in a research report on Wednesday, September 13th. Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Belden in a research report on Monday, September 25th. Finally, ValuEngine lowered shares of Belden from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $85.88.
In other news, SVP Paul Keith Turner sold 3,709 shares of Belden stock in a transaction on Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.31% of the stock is owned by insiders.
Belden Inc (NYSE BDC) opened at 84.81 on Friday. Belden Inc has a 12-month low of $60.06 and a 12-month high of $84.90. The stock has a market cap of $3.59 billion, a P/E ratio of 36.87 and a beta of 2.26. The stock has a 50 day moving average of $78.15 and a 200 day moving average of $73.53.
Belden (NYSE:BDC) last announced its quarterly earnings data 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 company had revenue of $610.63 million for the quarter, compared to analyst estimates of $608.16 million. Belden had a return on equity of 16.31% and a net margin of 5.53%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 EPS. On average, equities research analysts anticipate that Belden Inc will post $5.44 earnings per share for the current fiscal year.
The business also recently declared 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. The ex-dividend date was Thursday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Belden’s dividend payout ratio is presently 8.66%.
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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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