Belden Inc (BDC) Shares Sold by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan cut its holdings in Belden Inc (NYSE:BDC) by 21.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,790 shares of the industrial products company’s stock after selling 3,530 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Belden were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of BDC. Janus Henderson Group PLC bought a new position in shares of Belden in the 2nd quarter worth about $369,478,000. Boston Partners raised its position in shares of Belden by 231.9% in the 3rd quarter. Boston Partners now owns 2,264,337 shares of the industrial products company’s stock worth $182,347,000 after acquiring an additional 1,582,031 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Belden by 223.2% in the 2nd quarter. Lazard Asset Management LLC now owns 474,831 shares of the industrial products company’s stock worth $35,816,000 after acquiring an additional 327,914 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Belden in the 2nd quarter worth about $23,082,000. Finally, Royal Bank of Canada raised its position in shares of Belden by 3,024.6% in the 2nd quarter. Royal Bank of Canada now owns 236,942 shares of the industrial products company’s stock worth $17,873,000 after acquiring an additional 229,359 shares in the last quarter.
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In other Belden news, SVP Paul Keith Turner sold 3,709 shares of Belden stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the transaction, the senior vice president now owns 4,967 shares in the company, valued at approximately $391,945.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John S. Stroup sold 17,227 shares of Belden stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $84.75, for a total value of $1,459,988.25. The disclosure for this sale can be found here. Insiders have sold a total of 21,230 shares of company stock valued at $1,775,189 in the last quarter. Company insiders own 1.31% of the company’s stock.
A number of analysts recently commented on BDC shares. BidaskClub lowered Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Deutsche Bank AG boosted their target price on Belden from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $83.00 target price on shares of Belden in a research report on Friday, August 4th. ValuEngine raised Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $90.00 target price on shares of Belden in a research report on Monday, September 25th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $86.63.
Shares of Belden Inc (NYSE BDC) opened at $83.56 on Friday. Belden Inc has a 12-month low of $64.60 and a 12-month high of $86.31. The company has a market capitalization of $3,524.05, a PE ratio of 16.32 and a beta of 2.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.26 and a quick ratio of 1.79.
Belden (NYSE:BDC) last issued its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.08. Belden had a return on equity of 17.52% and a net margin of 4.03%. The business had revenue of $621.74 million during the quarter, compared to analyst estimates of $626.05 million. During the same period in the previous year, the company posted $1.29 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. equities analysts anticipate that Belden Inc will post 5.52 earnings per share for the current fiscal year.
Belden Company Profile
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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