Wedge Capital Management L L P NC reduced its holdings in Belden Inc. (NYSE:BDC) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 322,374 shares of the industrial products company’s stock after selling 19,918 shares during the period. Wedge Capital Management L L P NC’s holdings in Belden were worth $23,021,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. First Hawaiian Bank acquired a new stake in shares of Belden during the 3rd quarter worth approximately $159,000. US Bancorp DE grew its holdings in shares of Belden by 83.0% during the 2nd quarter. US Bancorp DE now owns 2,628 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 1,192 shares in the last quarter. Howe & Rusling Inc. grew its holdings in shares of Belden by 14,270.0% during the 2nd quarter. Howe & Rusling Inc. now owns 2,874 shares of the industrial products company’s stock worth $176,000 after purchasing an additional 2,854 shares in the last quarter. Balter Liquid Alternatives LLC acquired a new stake in shares of Belden during the 2nd quarter worth approximately $210,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Belden during the 2nd quarter worth approximately $225,000.
Shares of BDC stock opened at $54.94 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.38 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $2.23 billion, a P/E ratio of 10.27 and a beta of 2.41. Belden Inc. has a one year low of $50.71 and a one year high of $87.14.
Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.01. The business had revenue of $659.00 million for the quarter, compared to analyst estimates of $679.15 million. Belden had a return on equity of 21.28% and a net margin of 5.83%. Belden’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.49 EPS. Research analysts expect that Belden Inc. will post 6.1 earnings per share for the current fiscal year.
Several analysts have recently weighed in on the company. Zacks Investment Research lowered Belden from a “hold” rating to a “sell” rating in a report on Friday. Longbow Research lowered Belden from a “buy” rating to a “neutral” rating in a report on Thursday. Cross Research lowered Belden from a “buy” rating to a “hold” rating in a research note on Thursday. Canaccord Genuity decreased their price target on Belden from $88.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, SunTrust Banks lowered Belden from a “buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Belden currently has an average rating of “Hold” and an average price target of $73.40.
In related news, Chairman John S. Stroup purchased 9,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were acquired at an average price of $53.44 per share, with a total value of $494,320.00. Following the purchase, the chairman now directly owns 21,713 shares in the company, valued at $1,160,342.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.34% of the stock is owned by insiders.
Belden Company Profile
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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