Delphi Management Inc. MA Boosts Holdings in Belden Inc. (BDC)
Delphi Management Inc. MA raised its position in shares of Belden Inc. (NYSE:BDC) by 44.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,736 shares of the industrial products company’s stock after acquiring an additional 7,907 shares during the quarter. Delphi Management Inc. MA owned approximately 0.06% of Belden worth $2,073,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of BDC. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Belden by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 160 shares in the last quarter. World Asset Management Inc bought a new stake in Belden during the 2nd quarter valued at approximately $201,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Belden by 550.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 2,229 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Belden by 70.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock valued at $218,000 after acquiring an additional 1,197 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in Belden during the 3rd quarter valued at approximately $224,000.
In other news, Chairman John S. Stroup sold 17,227 shares of Belden stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $84.75, for a total transaction of $1,459,988.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Paul Keith Turner sold 3,709 shares of Belden stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the transaction, the senior vice president now owns 4,967 shares of the company’s stock, valued at $391,945.97. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by company insiders.
Several analysts have weighed in on BDC shares. Zacks Investment Research raised Belden from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Friday, November 3rd. TheStreet cut Belden from a “b” rating to a “c+” rating in a research report on Wednesday, November 1st. BidaskClub raised Belden from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective on shares of Belden in a research report on Monday, September 25th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $94.00 price objective on shares of Belden in a research report on Friday, December 1st. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $89.50.
Belden Inc. (NYSE BDC) opened at $81.86 on Thursday. Belden Inc. has a 1-year low of $64.60 and a 1-year high of $86.85. The stock has a market cap of $3,469.22, a P/E ratio of 16.07 and a beta of 2.26. The company has a current ratio of 2.26, a quick ratio of 1.79 and a debt-to-equity ratio of 1.06.
Belden (NYSE:BDC) last released its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.08. Belden had a net margin of 4.03% and a return on equity of 17.52%. The firm had revenue of $621.74 million during the quarter, compared to analyst estimates of $626.05 million. During the same period last year, the business earned $1.29 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. sell-side analysts predict that Belden Inc. will post 5.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Belden’s payout ratio is 13.79%.
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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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