Envestnet Asset Management Inc. raised its stake in Belden Inc. (NYSE:BDC) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,486 shares of the industrial products company’s stock after acquiring an additional 559 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Belden were worth $1,101,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Advisor Group Inc. increased its position in shares of Belden by 37.7% during the second quarter. Advisor Group Inc. now owns 910 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 249 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Belden in the 2nd quarter valued at $205,000. FDx Advisors Inc. purchased a new stake in Belden in the 2nd quarter valued at $215,000. O Shaughnessy Asset Management LLC grew its holdings in Belden by 315.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,472 shares of the industrial products company’s stock valued at $294,000 after buying an additional 4,154 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new stake in Belden in the 2nd quarter valued at $294,000. 95.88% of the stock is owned by institutional investors.
In related news, SVP Leo Kulmaczewski purchased 800 shares of Belden stock in a transaction on Thursday, August 1st. The shares were bought at an average price of $45.46 per share, with a total value of $36,368.00. Following the transaction, the senior vice president now directly owns 10,692 shares of the company’s stock, valued at $486,058.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is owned by company insiders.
Several analysts have issued reports on BDC shares. Stifel Nicolaus dropped their target price on Belden from $70.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Zacks Investment Research cut Belden from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. ValuEngine cut Belden from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Finally, SunTrust Banks lowered their price target on Belden to $54.00 and set a “hold” rating for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $62.58.
Shares of NYSE BDC traded down $0.02 during mid-day trading on Friday, reaching $53.55. 243,692 shares of the company’s stock were exchanged, compared to its average volume of 313,783. The company’s 50-day moving average is $46.96 and its 200-day moving average is $54.54. Belden Inc. has a 52-week low of $37.79 and a 52-week high of $73.57. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.37 and a current ratio of 1.89. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 8.84 and a beta of 2.40.
Belden (NYSE:BDC) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.01). The firm had revenue of $637.50 million for the quarter, compared to analyst estimates of $641.65 million. Belden had a return on equity of 19.29% and a net margin of 7.76%. Belden’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. As a group, equities analysts predict that Belden Inc. will post 5.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Thursday, September 19th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Wednesday, September 18th. Belden’s dividend payout ratio is currently 3.30%.
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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