Barclays PLC increased its stake in Belden Inc. (NYSE:BDC) by 50.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 30,662 shares of the industrial products company’s stock after buying an additional 10,311 shares during the quarter. Barclays PLC’s holdings in Belden were worth $2,114,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Cornercap Investment Counsel Inc. acquired a new stake in Belden in the first quarter worth about $655,000. UBS Group AG lifted its holdings in Belden by 265.2% in the first quarter. UBS Group AG now owns 4,338 shares of the industrial products company’s stock worth $299,000 after purchasing an additional 3,150 shares during the period. Princeton Portfolio Strategies Group LLC lifted its holdings in Belden by 47.1% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 4,370 shares of the industrial products company’s stock worth $301,000 after purchasing an additional 1,400 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its holdings in Belden by 55.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,580 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 3,057 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in Belden by 107.4% in the first quarter. Nuveen Asset Management LLC now owns 47,967 shares of the industrial products company’s stock worth $3,307,000 after purchasing an additional 24,841 shares during the period.
Shares of Belden opened at $62.26 on Tuesday, according to Marketbeat. Belden Inc. has a twelve month low of $53.65 and a twelve month high of $87.14. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.01 and a quick ratio of 1.45. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 11.64 and a beta of 2.32.
Belden (NYSE:BDC) last issued its quarterly earnings results on Wednesday, May 2nd. The industrial products company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.06. Belden had a net margin of 2.87% and a return on equity of 19.45%. The company had revenue of $605.57 million during the quarter, compared to the consensus estimate of $584.55 million. During the same period in the prior year, the company earned $0.92 EPS. Belden’s revenue was up 9.8% on a year-over-year basis. equities research analysts forecast that Belden Inc. will post 6.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Wednesday, June 20th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, June 19th. Belden’s payout ratio is 3.74%.
In other Belden news, Director Bryan C. Cressey purchased 2,000 shares of the business’s stock in a transaction on Monday, May 14th. The stock was bought at an average cost of $54.31 per share, with a total value of $108,620.00. Following the acquisition, the director now owns 123,875 shares of the company’s stock, valued at $6,727,651.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.34% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on BDC shares. SunTrust Banks raised shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, March 26th. ValuEngine downgraded shares of Belden from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $90.00 price target on shares of Belden in a report on Friday, March 30th. Zacks Investment Research raised shares of Belden from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $88.00 price target on shares of Belden in a report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $86.00.
Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.
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