MARSHALL WACE ASIA Ltd bought a new position in shares of Belden Inc (NYSE:BDC) during the first quarter, according to its most recent 13F filing with the SEC. The firm bought 50,630 shares of the industrial products company’s stock, valued at approximately $3,493,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Belden during the fourth quarter worth about $32,808,000. Thrivent Financial for Lutherans raised its position in Belden by 1,920.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 319,510 shares of the industrial products company’s stock worth $23,890,000 after buying an additional 303,700 shares during the last quarter. Bank of New York Mellon Corp raised its position in Belden by 27.8% in the first quarter. Bank of New York Mellon Corp now owns 939,631 shares of the industrial products company’s stock worth $65,013,000 after buying an additional 204,609 shares during the last quarter. AQR Capital Management LLC raised its position in Belden by 56.4% in the fourth quarter. AQR Capital Management LLC now owns 286,399 shares of the industrial products company’s stock worth $21,414,000 after buying an additional 103,321 shares during the last quarter. Finally, Opus Capital Group LLC purchased a new position in Belden during the first quarter worth about $6,400,000.
Belden Inc (NYSE:BDC) traded up 3.49% during mid-day trading on Friday, hitting $76.59. 67,618 shares of the company were exchanged. The company has a 50 day moving average of $72.81 and a 200 day moving average of $73.00. The stock has a market cap of $3.24 billion, a P/E ratio of 28.81 and a beta of 2.29. Belden Inc has a 12-month low of $54.97 and a 12-month high of $81.33.
Belden (NYSE:BDC) last issued its earnings results on Wednesday, May 3rd. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $551.40 million for the quarter, compared to analyst estimates of $551.14 million. Belden had a net margin of 5.80% and a return on equity of 18.25%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. On average, equities research analysts expect that Belden Inc will post $5.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Tuesday, June 13th. Belden’s dividend payout ratio (DPR) is presently 7.55%.
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BDC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Belden from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. Seaport Global Securities initiated coverage on shares of Belden in a research note on Thursday, March 2nd. They set a “buy” rating and a $82.00 target price for the company. CL King initiated coverage on shares of Belden in a research note on Wednesday. They set a “neutral” rating for the company. Finally, Goldman Sachs Group, Inc. (The) started coverage on shares of Belden in a research note on Friday. They set a “buy” rating and a $93.00 target price for the company. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Belden has a consensus rating of “Buy” and a consensus price target of $83.13.
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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