Rothschild Asset Management Inc. Takes $9.36 Million Position in Belden Inc (BDC)
Rothschild Asset Management Inc. bought a new position in shares of Belden Inc (NYSE:BDC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 116,175 shares of the industrial products company’s stock, valued at approximately $9,356,000. Rothschild Asset Management Inc. owned 0.28% of Belden as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC acquired a new position in Belden during the second quarter valued at $369,478,000. BlackRock Inc. raised its position in Belden by 0.7% during the second quarter. BlackRock Inc. now owns 4,296,433 shares of the industrial products company’s stock valued at $324,082,000 after buying an additional 31,973 shares during the period. Vanguard Group Inc. raised its position in Belden by 0.4% during the second quarter. Vanguard Group Inc. now owns 3,568,140 shares of the industrial products company’s stock valued at $269,145,000 after buying an additional 14,086 shares during the period. Boston Partners raised its position in Belden by 231.9% during the third quarter. Boston Partners now owns 2,264,337 shares of the industrial products company’s stock valued at $182,347,000 after buying an additional 1,582,031 shares during the period. Finally, State Street Corp raised its position in Belden by 1.7% during the second quarter. State Street Corp now owns 1,393,807 shares of the industrial products company’s stock valued at $105,133,000 after buying an additional 22,944 shares during the period.
Belden Inc (NYSE:BDC) opened at $85.27 on Friday. 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 Inc has a 52 week low of $64.60 and a 52 week 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.
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 firm had revenue of $621.74 million for the quarter, compared to the consensus estimate of $626.05 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. equities research analysts forecast that Belden Inc will post 5.52 EPS for the current fiscal year.
In other Belden news, SVP Paul Keith Turner sold 3,709 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total value of $292,677.19. Following the transaction, the senior vice president now owns 4,967 shares in the company, valued at $391,945.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John S. Stroup sold 17,227 shares of the business’s 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 sold 21,230 shares of company stock worth $1,775,189 in the last 90 days. Corporate insiders own 1.31% of the company’s stock.
Several research analysts recently weighed in on BDC shares. Deutsche Bank AG upped their price target on Belden from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised Belden from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and set a $88.00 price target (up from $83.00) on shares of Belden in a research report on Wednesday, September 13th. Guggenheim reissued a “buy” rating and set a $90.00 price target on shares of Belden in a research report on Monday, September 25th. Finally, ValuEngine raised Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Belden presently has an average rating of “Buy” and an average price target of $86.63.
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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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