Principal Financial Group Inc. Has $7.46 Million Holdings in Belden Inc. (BDC)
Principal Financial Group Inc. trimmed its position in shares of Belden Inc. (NYSE:BDC) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 178,702 shares of the industrial products company’s stock after selling 2,960 shares during the quarter. Principal Financial Group Inc. owned about 0.44% of Belden worth $7,464,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Belden by 0.8% in the 4th quarter. BlackRock Inc. now owns 4,599,763 shares of the industrial products company’s stock valued at $192,131,000 after purchasing an additional 35,400 shares during the last quarter. Vanguard Group Inc increased its holdings in Belden by 1.8% in the 3rd quarter. Vanguard Group Inc now owns 3,751,468 shares of the industrial products company’s stock worth $267,893,000 after buying an additional 66,745 shares during the period. Vanguard Group Inc. increased its holdings in Belden by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 3,751,468 shares of the industrial products company’s stock worth $267,893,000 after buying an additional 66,745 shares during the period. Dimensional Fund Advisors LP increased its holdings in Belden by 9.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,667,711 shares of the industrial products company’s stock worth $69,660,000 after buying an additional 150,151 shares during the period. Finally, Northern Trust Corp increased its holdings in Belden by 17.5% in the 4th quarter. Northern Trust Corp now owns 968,121 shares of the industrial products company’s stock worth $40,439,000 after buying an additional 144,468 shares during the period.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Belden from a “sell” rating to a “hold” rating in a report on Tuesday, January 1st. ValuEngine downgraded shares of Belden from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 27th. Canaccord Genuity increased their price target on shares of Belden from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, February 21st. TheStreet upgraded shares of Belden from a “c+” rating to a “b-” rating in a report on Thursday, February 28th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Belden in a report on Friday, February 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $69.18.
Belden (NYSE:BDC) last issued its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. The business had revenue of $655.39 million for the quarter, compared to analysts’ expectations of $661.84 million. Belden had a net margin of 6.22% and a return on equity of 21.37%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.62 EPS. As a group, analysts forecast that Belden Inc. will post 5.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.34%. Belden’s payout ratio is 3.30%.
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Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.
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