Barings LLC Maintains Position in Belden Inc (BDC)
Barings LLC held its stake in shares of Belden Inc (NYSE:BDC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the industrial products company’s stock at the close of the 2nd quarter. Barings LLC’s holdings in Belden were worth $221,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Belden by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 160 shares during the period. Envestnet Asset Management Inc. raised its stake in Belden by 60.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 841 shares during the period. World Asset Management Inc bought a new stake in Belden during the 2nd quarter valued at approximately $201,000. Riverhead Capital Management LLC raised its stake in Belden by 70.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 1,197 shares during the period. Finally, Greenwood Capital Associates LLC raised its stake in Belden by 0.5% during the 2nd quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 14 shares during the period.
In other news, Chairman John S. Stroup sold 17,227 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $84.75, for a total value of $1,459,988.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul Keith Turner sold 3,709 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 4,967 shares of the company’s stock, valued at $391,945.97. The disclosure for this sale can be found here. Insiders sold 21,230 shares of company stock valued at $1,775,189 over the last 90 days. Company insiders own 1.31% of the company’s stock.
Belden Inc (NYSE BDC) opened at 83.69 on Friday. The stock has a market cap of $3.54 billion, a PE ratio of 36.39 and a beta of 2.26. The firm’s 50-day moving average price is $81.19 and its 200 day moving average price is $74.70. Belden Inc has a 12-month low of $60.06 and a 12-month high of $86.31.
Belden (NYSE:BDC) last posted its quarterly earnings results 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. The business had revenue of $610.63 million during 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 business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 earnings per share. Analysts anticipate that Belden Inc will post $5.44 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Belden’s dividend payout ratio (DPR) is presently 8.66%.
BDC has been the topic of several recent analyst reports. Guggenheim initiated coverage on Belden in a research note on Tuesday, July 11th. They set a “buy” rating and a $90.00 target price on the stock. Goldman Sachs Group Inc initiated coverage on Belden in a research note on Friday, June 23rd. They set a “buy” rating and a $93.00 target price on the stock. BidaskClub raised Belden from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research downgraded Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Canaccord Genuity reissued a “buy” rating and set a $83.00 target price on shares of Belden in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $85.88.
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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