Has $154000 Position in Belden Inc (NYSE:BDC)

Judith Bessette
Agosto 14, 2017

Several other institutional investors also recently bought and sold shares of BDC. Finally, Nisa Investment Advisors LLC raised its stake in shares of Belden by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the industrial products company's stock valued at $740,000 after buying an additional 300 shares during the period. Envestnet Asset Management Inc. bought a new position in shares of Belden during the fourth quarter valued at $105,000. Can raised its position in shares of Belden by 4.7% in the first quarter. BlackRock Inc. now owns 4,264,460 shares of the industrial products company's stock worth $295,057,000 after buying an additional 4,245,792 shares in the last quarter. Finally, Greenwood Capital Associates LLC increased its stake in Belden by 5.3% in the first quarter. The business's revenue for the quarter was up 1.5% compared to the same quarter a year ago. Belden comprises 2.9% of Channing Capital Management LLC's portfolio, making the stock its 2nd largest position. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company's stock worth $262,000 after buying an additional 140 shares during the period.

Shares of Belden (NYSE:BDC) traded up 1.33% during midday trading on Friday, hitting $71.45. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company's stock valued at $132,000 after buying an additional 160 shares during the period. Belden has a 52-week low of $60.06 and a 52-week high of $81.33. The firm's 50-day moving average price is $74.75 and its 200 day moving average price is $72.48. The stock has a market capitalization of $3.00 billion, a P/E ratio of 30.87 and a beta of 2.28.

Belden Inc (NYSE:BDC) issued an update on its third quarter earnings guidance on Wednesday morning. The industrial products company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.08. The firm had revenue of $610.63 million during the quarter, compared to analysts' expectations of $608.16 million. Belden had a return on equity of 16.31% and a net margin of 5.53%. The company's quarterly revenue was up 1.5% compared to the same quarter a year ago. During the same period previous year, the firm earned $1.54 earnings per share. On average, equities analysts predict that Belden Inc will post $5.44 EPS for the current year.

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Belden announced that its board has approved a share buyback plan on Thursday, May 25th that permits the company to buyback $200.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 6.8% of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

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A number of analysts have recently issued reports on BDC shares. Deutsche Bank AG upped their target price on shares of Belden from $85.00 to $92.00 and gave the stock a buy rating in a research report on Thursday, August 3rd. ValuEngine cut shares of Belden from a "buy" rating to a "hold" rating in a research note on Thursday, July 20th. Zacks Investment Research upgraded Belden from a "hold" rating to a "strong-buy" rating and set a $86.00 target price for the company in a research report on Tuesday, July 11th. BidaskClub lowered shares of Belden from a "hold" rating to a "sell" rating in a research note on Tuesday, August 1st. Canaccord Genuity restated a "buy" rating and issued a $83.00 target price on shares of Belden in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the 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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