MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income trimmed its holdings in Belden Inc. (NYSE:BDC – Get Rating) by 22.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 117,775 shares of the industrial products company’s stock after selling 33,545 shares during the period. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned 0.27% of Belden worth $6,525,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Pinebridge Investments L.P. purchased a new position in Belden during the fourth quarter worth about $59,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Belden in the fourth quarter valued at approximately $102,000. USA Financial Portformulas Corp purchased a new position in shares of Belden in the fourth quarter valued at approximately $124,000. Lazard Asset Management LLC boosted its stake in shares of Belden by 201.3% in the fourth quarter. Lazard Asset Management LLC now owns 2,389 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 1,596 shares during the period. Finally, Profund Advisors LLC purchased a new position in shares of Belden in the fourth quarter valued at approximately $228,000. 99.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Belden news, EVP Ashish Chand bought 9,949 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The stock was purchased at an average price of $50.36 per share, with a total value of $501,031.64. Following the transaction, the executive vice president now owns 55,772 shares in the company, valued at $2,808,677.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.06% of the company’s stock.
Belden Price Performance
Belden (NYSE:BDC – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.17. Belden had a net margin of 3.37% and a return on equity of 25.73%. The company had revenue of $666.60 million during the quarter, compared to the consensus estimate of $633.68 million. During the same quarter in the prior year, the company posted $1.21 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts expect that Belden Inc. will post 6 earnings per share for the current fiscal year.
Belden Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Thursday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Wednesday, June 15th. Belden’s dividend payout ratio (DPR) is presently 10.53%.
Analyst Ratings Changes
Several research analysts have recently commented on BDC shares. TheStreet raised shares of Belden from a “c+” rating to a “b-” rating in a research note on Thursday, May 26th. The Goldman Sachs Group lifted their price target on shares of Belden from $59.00 to $67.00 and gave the stock a “neutral” rating in a research note on Thursday. Truist Financial lifted their price target on shares of Belden from $67.00 to $77.00 in a research note on Thursday. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 21st. Finally, Canaccord Genuity Group raised their price objective on shares of Belden from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, May 5th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Belden presently has an average rating of “Buy” and a consensus price target of $78.50.
Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber, and home and building automation.
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