Laurion Capital Management LP Boosts Stake in Belden Inc (BDC)
Laurion Capital Management LP grew its holdings in Belden Inc (NYSE:BDC) by 29.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,800 shares of the industrial products company’s stock after acquiring an additional 1,100 shares during the quarter. Laurion Capital Management LP’s holdings in Belden were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Belden by 10.1% in the second 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 during the period. Point72 Asia Hong Kong Ltd boosted its position in shares of Belden by 799.6% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock valued at $143,000 after acquiring an additional 1,831 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Belden by 60.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 841 shares during the period. World Asset Management Inc bought a new stake in shares of Belden in the second quarter valued at approximately $201,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Belden by 9.6% in the first quarter. Advisors Asset Management Inc. now owns 3,093 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 272 shares during the period.
Belden Inc (BDC) opened at 80.53 on Friday. The company has a 50-day moving average price of $74.86 and a 200 day moving average price of $72.51. Belden Inc has a 12 month low of $60.06 and a 12 month high of $81.33. The company has a market capitalization of $3.41 billion, a PE ratio of 35.01 and a beta of 2.27.
Belden (NYSE:BDC) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.08. The business had revenue of $610.63 million for the quarter, compared to analyst estimates of $608.16 million. Belden had a return on equity of 16.31% and a net margin of 5.53%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.54 EPS. On average, equities research analysts forecast that Belden Inc will post $5.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Friday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Thursday, September 14th. Belden’s payout ratio is presently 8.66%.
COPYRIGHT VIOLATION NOTICE: “Laurion Capital Management LP Boosts Stake in Belden Inc (BDC)” was first posted by Watch List News and is owned by of Watch List News. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.watchlistnews.com/laurion-capital-management-lp-boosts-stake-in-belden-inc-bdc/1600413.html.
Several research firms have recently weighed in on BDC. Guggenheim reissued a “buy” rating and issued a $90.00 price objective on shares of Belden in a research report on Monday, September 25th. Canaccord Genuity reissued a “buy” rating and issued a $88.00 price objective (up from $83.00) on shares of Belden in a research report on Wednesday, September 13th. ValuEngine raised Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. BidaskClub raised Belden from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Deutsche Bank AG increased their price objective on Belden from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $85.88.
In related news, SVP Paul Keith Turner sold 3,709 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $78.91, for a total value of $292,677.19. Following the completion of the sale, the senior vice president now directly owns 4,967 shares in the company, valued at approximately $391,945.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.31% of the stock is currently owned by insiders.
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).
Want to see what other hedge funds are holding BDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Belden Inc (NYSE:BDC).
Receive News & Ratings for Belden Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.