California Public Employees Retirement System grew its stake in Belden Inc. (NYSE:BDC) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,859 shares of the industrial products company’s stock after acquiring an additional 9,217 shares during the quarter. California Public Employees Retirement System owned about 0.22% of Belden worth $7,243,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in Belden by 3.6% during the 3rd quarter. Janus Henderson Group PLC now owns 5,072,653 shares of the industrial products company’s stock valued at $408,501,000 after purchasing an additional 174,365 shares during the last quarter. Boston Partners lifted its holdings in shares of Belden by 26.4% in the 4th quarter. Boston Partners now owns 2,861,363 shares of the industrial products company’s stock valued at $220,811,000 after buying an additional 597,026 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Belden by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 904,044 shares of the industrial products company’s stock valued at $72,802,000 after buying an additional 3,481 shares during the period. Systematic Financial Management LP raised its holdings in Belden by 10.2% in the 3rd quarter. Systematic Financial Management LP now owns 773,507 shares of the industrial products company’s stock worth $62,291,000 after purchasing an additional 71,812 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in Belden by 11.7% in the 3rd quarter. Macquarie Group Ltd. now owns 341,908 shares of the industrial products company’s stock worth $27,534,000 after purchasing an additional 35,897 shares during the period.
In other news, SVP Ross Rosenberg sold 779 shares of Belden stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $75.00, for a total transaction of $58,425.00. Following the completion of the sale, the senior vice president now directly owns 5,329 shares in the company, valued at approximately $399,675. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.31% of the stock is owned by company insiders.
A number of equities analysts recently weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target on shares of Belden in a report on Wednesday, December 6th. Zacks Investment Research lowered Belden from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Stifel Nicolaus upped their price target on Belden from $90.00 to $97.00 and gave the company an “in-line” rating in a research report on Wednesday, December 6th. Canaccord Genuity reiterated a “buy” rating and issued a $94.00 price objective on shares of Belden in a research report on Friday, December 1st. Finally, Cross Research lowered Belden from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Belden currently has a consensus rating of “Hold” and an average price target of $93.00.
Shares of Belden Inc. (NYSE BDC) traded down $0.82 during mid-day trading on Wednesday, hitting $76.39. The company’s stock had a trading volume of 82,778 shares, compared to its average volume of 356,362. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.58 and a current ratio of 2.02. Belden Inc. has a 12 month low of $64.60 and a 12 month high of $87.14. The stock has a market capitalization of $3,272.68, a price-to-earnings ratio of 56.39 and a beta of 2.34.
Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.15). The company had revenue of $604.88 million for the quarter, compared to analysts’ expectations of $648.92 million. Belden had a return on equity of 18.20% and a net margin of 3.90%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 EPS. research analysts forecast that Belden Inc. will post 6.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 15th will be given a $0.05 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. Belden’s payout ratio is currently 14.60%.
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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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