Louisiana State Employees Retirement System decreased its stake in shares of Belden Inc. (NYSE:BDC) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Belden were worth $676,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in BDC. CrestPoint Capital Management LLC raised its stake in shares of 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 last quarter. LS Investment Advisors LLC raised its stake 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 valued at $152,000 after buying an additional 1,057 shares during the last quarter. BlackRock Inc. raised its stake in shares of Belden by 8.5% in the first quarter. BlackRock Inc. now owns 16,253 shares of the company’s stock valued at $998,000 after buying an additional 1,272 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Belden by 3.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 68,172 shares of the company’s stock valued at $4,184,000 after buying an additional 2,535 shares during the last quarter. Finally, Princeton Portfolio Strategies Group LLC raised its stake in shares of Belden by 20.2% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 18,110 shares of the company’s stock valued at $1,112,000 after buying an additional 3,045 shares during the last quarter.
Shares of Belden Inc. (NYSE:BDC) traded down 0.93% on Thursday, hitting $66.17. 422,993 shares of the company traded hands. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 23.02 and a beta of 2.27. The firm’s 50 day moving average price is $68.54 and its 200-day moving average price is $65.99. Belden Inc. has a 1-year low of $36.51 and a 1-year high of $75.91.
Belden (NYSE:BDC) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.28. The company earned $601.60 million during the quarter, compared to the consensus estimate 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 earned $1.21 earnings per share. On average, equities research analysts expect that Belden Inc. will post $5.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Thursday, September 15th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. Belden’s dividend payout ratio is presently 6.94%.
A number of brokerages have recently weighed in on BDC. Canaccord Genuity restated a “buy” rating and issued a $70.00 price objective on shares of Belden in a report on Tuesday, June 28th. Zacks Investment Research lowered shares of Belden from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Finally, SunTrust Banks Inc. lowered shares of Belden from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $84.00 to $79.00 in a report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.00.
In related news, SVP Ross Rosenberg sold 2,274 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $74.00, for a total value of $168,276.00. Following the completion of the sale, the senior vice president now directly owns 7,603 shares in the company, valued at $562,622. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.37% of the stock is owned by corporate 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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