FDx Advisors Inc. reduced its stake in Belden Inc. (NYSE:BDC) by 81.3% in the third quarter, HoldingsChannel.com reports. The fund owned 5,105 shares of the industrial products company’s stock after selling 22,248 shares during the quarter. FDx Advisors Inc.’s holdings in Belden were worth $365,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Strs Ohio lifted its stake in shares of Belden by 3.2% in the 2nd quarter. Strs Ohio now owns 71,200 shares of the industrial products company’s stock worth $4,351,000 after acquiring an additional 2,200 shares during the period. Legal & General Group Plc lifted its stake in shares of Belden by 13.7% in the 2nd quarter. Legal & General Group Plc now owns 50,164 shares of the industrial products company’s stock worth $3,066,000 after acquiring an additional 6,031 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Belden by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 184,830 shares of the industrial products company’s stock worth $12,743,000 after acquiring an additional 3,841 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Belden in the 2nd quarter worth approximately $2,146,000. Finally, Bbva Compass Bancshares Inc. lifted its stake in shares of Belden by 46.9% in the 3rd quarter. Bbva Compass Bancshares Inc. now owns 9,848 shares of the industrial products company’s stock worth $704,000 after acquiring an additional 3,144 shares during the period.
In other news, Chairman John S. Stroup purchased 9,250 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were acquired at an average price of $53.44 per share, for a total transaction of $494,320.00. Following the completion of the acquisition, the chairman now directly owns 21,713 shares of the company’s stock, valued at $1,160,342.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Roel Vestjens purchased 447 shares of the business’s stock in a transaction dated Wednesday, November 14th. The shares were purchased at an average price of $55.94 per share, for a total transaction of $25,005.18. Following the acquisition, the senior vice president now directly owns 22,778 shares of the company’s stock, valued at $1,274,201.32. The disclosure for this purchase can be found here. Insiders have bought 11,128 shares of company stock worth $596,098 in the last 90 days. 1.34% of the stock is owned by company insiders.
BDC stock opened at $48.96 on Friday. Belden Inc. has a 12 month low of $47.61 and a 12 month high of $87.14. The company has a market cap of $2.03 billion, a P/E ratio of 8.38 and a beta of 2.42. The company has a quick ratio of 1.38, a current ratio of 1.90 and a debt-to-equity ratio of 1.08.
Belden (NYSE:BDC) last released its earnings results on Wednesday, October 31st. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.71 by $0.01. Belden had a net margin of 5.83% and a return on equity of 21.28%. The business had revenue of $659.00 million during the quarter, compared to analyst estimates of $679.15 million. During the same period in the prior year, the business earned $1.49 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts predict that Belden Inc. will post 6.09 earnings per share for the current fiscal year.
Belden announced that its board has initiated a share buyback plan on Thursday, November 29th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 8th. Investors of record on Monday, December 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, December 14th. Belden’s dividend payout ratio is presently 3.74%.
A number of analysts have recently weighed in on BDC shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $88.00 price target on shares of Belden in a research note on Wednesday, August 22nd. TheStreet raised shares of Belden from a “c” rating to a “b-” rating in a research note on Tuesday, August 21st. Zacks Investment Research lowered shares of Belden from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Guggenheim reissued a “buy” rating and set a $77.00 target price on shares of Belden in a research note on Wednesday, October 31st. Finally, ValuEngine lowered shares of Belden from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $70.33.
COPYRIGHT VIOLATION NOTICE: “Belden Inc. (BDC) Shares Sold by FDx Advisors Inc.” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/12/07/belden-inc-bdc-shares-sold-by-fdx-advisors-inc.html.
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.
Further Reading: How to calculate the annual rate of depreciation
Want to see what other hedge funds are holding BDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Belden Inc. (NYSE:BDC).
Receive News & Ratings for Belden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden and related companies with MarketBeat.com's FREE daily email newsletter.