Goldman Sachs Group Inc. lessened its holdings in shares of Belden Inc (NYSE:BDC) by 29.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 155,527 shares of the industrial products company’s stock after selling 63,415 shares during the quarter. Goldman Sachs Group Inc. owned about 0.37% of Belden worth $11,731,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its position in shares of Belden by 0.7% during the second quarter. BlackRock Inc. now owns 4,296,433 shares of the industrial products company’s stock worth $324,082,000 after purchasing an additional 31,973 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Belden by 0.4% during the second quarter. Vanguard Group Inc. now owns 3,568,140 shares of the industrial products company’s stock worth $269,145,000 after purchasing an additional 14,086 shares in the last quarter. State Street Corp lifted its position in shares of Belden by 1.7% during the first quarter. State Street Corp now owns 1,370,863 shares of the industrial products company’s stock worth $94,858,000 after purchasing an additional 22,968 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Belden by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,233,000 shares of the industrial products company’s stock worth $93,006,000 after purchasing an additional 101,168 shares in the last quarter. Finally, Systematic Financial Management LP lifted its position in shares of Belden by 31.3% during the second quarter. Systematic Financial Management LP now owns 701,695 shares of the industrial products company’s stock worth $52,929,000 after purchasing an additional 167,361 shares in the last quarter.
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Shares of Belden Inc (NYSE:BDC) opened at 81.49 on Friday. The stock has a 50 day moving average price of $81.50 and a 200 day moving average price of $75.13. Belden Inc has a 12-month low of $60.06 and a 12-month high of $86.31. The firm has a market capitalization of $3.45 billion, a P/E ratio of 35.43 and a beta of 2.26.
Belden (NYSE:BDC) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.08. Belden had a return on equity of 16.31% and a net margin of 5.53%. The company had revenue of $610.63 million during the quarter, compared to analysts’ expectations of $608.16 million. During the same period last year, the firm earned $1.54 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities 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 given a $0.05 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Belden’s dividend payout ratio is currently 8.66%.
Several analysts have recently issued reports on BDC shares. Guggenheim started coverage on shares of Belden in a research report on Tuesday, July 11th. They set a “buy” rating and a $90.00 price target on the stock. Zacks Investment Research lowered shares of Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub upgraded shares of Belden from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Canaccord Genuity restated a “buy” rating and set a $83.00 target price on shares of Belden in a research note on Friday, August 4th. Finally, Deutsche Bank AG upped their target price on shares of Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $85.88.
In other Belden news, Chairman John S. Stroup sold 17,227 shares of Belden stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $84.75, for a total transaction of $1,459,988.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Paul Keith Turner sold 3,709 shares of Belden stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total value of $292,677.19. Following the transaction, the senior vice president now owns 4,967 shares in the company, valued at $391,945.97. The disclosure for this sale can be found here. Insiders sold a total of 21,230 shares of company stock worth $1,775,189 over the last 90 days. 1.31% of the stock is owned by corporate insiders.
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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