Lapides Asset Management LLC lifted its holdings in Belden (NYSE:BDC) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,600 shares of the industrial products company’s stock after acquiring an additional 1,600 shares during the quarter. Belden accounts for 2.5% of Lapides Asset Management LLC’s holdings, making the stock its 11th biggest position. Lapides Asset Management LLC owned approximately 0.40% of Belden worth $11,554,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Delphi Management Inc. MA raised its stake in Belden by 2.6% during the fourth quarter. Delphi Management Inc. MA now owns 26,405 shares of the industrial products company’s stock worth $2,038,000 after purchasing an additional 669 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Belden by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 718 shares during the last quarter. FDx Advisors Inc. increased its position in shares of Belden by 22.8% during the fourth quarter. FDx Advisors Inc. now owns 4,654 shares of the industrial products company’s stock valued at $359,000 after acquiring an additional 863 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Belden by 1.1% in the third quarter. California Public Employees Retirement System now owns 84,642 shares of the industrial products company’s stock valued at $6,816,000 after purchasing an additional 942 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Belden by 4.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 27,003 shares of the industrial products company’s stock valued at $2,084,000 after purchasing an additional 1,081 shares in the last quarter.
In related news, Director Bryan C. Cressey bought 2,000 shares of the business’s stock in a transaction on Monday, May 14th. The shares were bought at an average cost of $54.31 per share, for a total transaction of $108,620.00. Following the completion of the purchase, the director now owns 123,875 shares of the company’s stock, valued at approximately $6,727,651.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ross Rosenberg sold 779 shares of Belden stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $75.00, for a total transaction of $58,425.00. Following the sale, the senior vice president now owns 5,329 shares in the company, valued at $399,675. The disclosure for this sale can be found here. 1.34% of the stock is currently owned by company insiders.
BDC opened at $57.22 on Friday. The company has a market cap of $2.31 billion, a P/E ratio of 10.23 and a beta of 2.37. Belden has a 1 year low of $56.12 and a 1 year high of $56.66. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.01 and a quick ratio of 1.45.
Belden (NYSE:BDC) last issued its quarterly earnings data on Wednesday, May 2nd. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 quarter last year, the company earned $0.92 earnings per share. Belden’s revenue for the quarter was up 9.8% on a year-over-year basis. analysts expect that Belden will post 6.35 earnings per share for the current year.
BDC has been the subject of a number of research reports. Canaccord Genuity restated a “buy” rating and issued a $88.00 price objective on shares of Belden in a report on Thursday, May 3rd. Cross Research upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus restated a “buy” rating and set a $90.00 price objective on shares of Belden in a research report on Friday, March 30th. SunTrust Banks upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, March 26th. Finally, Zacks Investment Research upgraded shares of Belden from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $90.83.
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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