First Midwest Bank Trust Division boosted its position in shares of Belden Inc. (NYSE:BDC) by 47.3% during the second quarter, Holdings Channel reports. The institutional investor owned 12,439 shares of the company’s stock after buying an additional 3,994 shares during the period. First Midwest Bank Trust Division’s holdings in Belden were worth $751,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LS Investment Advisors LLC raised its position in shares of Belden by 72.2% in the second quarter. LS Investment Advisors LLC now owns 2,522 shares of the company’s stock worth $152,000 after buying an additional 1,057 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Belden during the first quarter valued at about $279,000. Strs Ohio raised its stake in Belden by 7.5% in the second quarter. Strs Ohio now owns 5,700 shares of the company’s stock valued at $344,000 after buying an additional 400 shares during the period. CrestPoint Capital Management LLC raised its stake in Belden by 9.4% in the second quarter. CrestPoint Capital Management LLC now owns 5,800 shares of the company’s stock valued at $350,000 after buying an additional 500 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Belden during the first quarter valued at about $371,000.
Shares of Belden Inc. (NYSE:BDC) traded down 1.30% during mid-day trading on Monday, hitting $68.09. The company had a trading volume of 187,757 shares. Belden Inc. has a one year low of $36.51 and a one year high of $75.91. The company’s 50-day moving average is $69.51 and its 200 day moving average is $65.63. The company has a market capitalization of $2.87 billion, a PE ratio of 23.69 and a beta of 2.27.
Belden (NYSE:BDC) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $1.54 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.28. The business had revenue of $601.60 million for the quarter, compared to analyst estimates of $582.25 million. Belden had a return on equity of 27.25% and a net margin of 5.29%. During the same period last year, the company posted $1.21 earnings per share. On average, equities research analysts forecast that Belden Inc. will post $5.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. Belden’s payout ratio is presently 6.94%.
Several analysts have recently issued reports on the company. Canaccord Genuity reissued a “buy” rating on shares of Belden in a report on Monday, June 20th. Zacks Investment Research raised Belden from a “hold” rating to a “strong-buy” rating and set a $87.00 target price on the stock in a report on Wednesday, July 20th. Finally, SunTrust Banks Inc. lowered Belden from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $84.00 to $79.00 in a report on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $77.00.
In other Belden news, SVP Ross Rosenberg sold 713 shares of the business’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $69.00, for a total value of $49,197.00. Following the sale, the senior vice president now directly owns 9,877 shares in the company, valued at $681,513. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.37% of the stock is owned by company insiders.
Belden Company Profile
Belden Inc (Belden) is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides transmission of data, sound and video for mission critical applications. The Company’s segments include Broadcast Solutions, Enterprise Connectivity Solutions, Industrial Connectivity Solutions, Industrial IT Solutions and Network Security Solutions.
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