Opus Capital Group LLC Sells 42,193 Shares of Belden Inc (BDC)
Opus Capital Group LLC lowered its stake in Belden Inc (NYSE:BDC) by 45.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 50,308 shares of the industrial products company’s stock after selling 42,193 shares during the period. Opus Capital Group LLC’s holdings in Belden were worth $3,795,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capstone Asset Management Co. raised its stake in Belden by 15.6% in the first quarter. Capstone Asset Management Co. now owns 3,329 shares of the industrial products company’s stock valued at $230,000 after buying an additional 450 shares during the period. Louisiana State Employees Retirement System raised its stake in Belden by 2.9% in the first 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. Palisade Capital Management LLC NJ bought a new stake in Belden during the first quarter valued at about $242,000. Hartford Investment Management Co. bought a new stake in Belden during the first quarter valued at about $210,000. Finally, Oakbrook Investments LLC bought a new stake in Belden during the first quarter valued at about $208,000.
Shares of Belden Inc (NYSE:BDC) opened at 71.33 on Friday. Belden Inc has a 1-year low of $60.06 and a 1-year high of $81.33. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 31.01 and a beta of 2.28. The company has a 50-day moving average price of $74.14 and a 200 day moving average price of $72.25.
Belden (NYSE:BDC) last announced 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 company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 EPS. On average, equities research analysts predict that Belden Inc will post $5.44 EPS for the current year.
Belden declared that its Board of Directors has authorized a share repurchase program on Thursday, May 25th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
COPYRIGHT VIOLATION NOTICE: “Opus Capital Group LLC Sells 42,193 Shares of Belden Inc (BDC)” was reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://www.watchlistnews.com/opus-capital-group-llc-sells-42193-shares-of-belden-inc-bdc/1503330.html.
Several analysts have recently issued reports on BDC shares. CL King started coverage on Belden in a report on Wednesday, June 21st. They set a “neutral” rating on the stock. Goldman Sachs Group, Inc. (The) started coverage on Belden in a report on Friday, June 23rd. They set a “buy” rating and a $93.00 target price on the stock. Guggenheim started coverage on Belden in a report on Tuesday, July 11th. They set a “buy” rating and a $90.00 target price on the stock. Zacks Investment Research raised Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 target price on the stock in a report on Tuesday, July 11th. Finally, ValuEngine lowered Belden from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $84.56.
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.