State of Tennessee Treasury Department lifted its position in Belden Inc (NYSE:BDC) by 12.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,000 shares of the industrial products company’s stock after acquiring an additional 10,000 shares during the period. State of Tennessee Treasury Department owned 0.21% of Belden worth $7,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new stake in Belden during the 2nd quarter worth about $369,478,000. BlackRock Inc. boosted its stake in shares of Belden by 0.7% during the 2nd quarter. BlackRock Inc. now owns 4,296,433 shares of the industrial products company’s stock worth $324,082,000 after acquiring an additional 31,973 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Belden by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,568,140 shares of the industrial products company’s stock worth $269,145,000 after acquiring an additional 14,086 shares in the last quarter. State Street Corp boosted its stake in shares of Belden by 1.7% during the 2nd quarter. State Street Corp now owns 1,393,807 shares of the industrial products company’s stock worth $105,133,000 after acquiring an additional 22,944 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Belden by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,233,000 shares of the industrial products company’s stock worth $93,006,000 after acquiring an additional 101,168 shares in the last quarter.
A number of research firms have weighed in on BDC. Guggenheim reissued a “buy” rating and issued a $90.00 target price on shares of Belden in a research note on Monday, September 25th. Canaccord Genuity restated a “buy” rating and set a $83.00 price target on shares of Belden in a report on Friday, August 4th. Deutsche Bank AG raised their price target on shares of Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. BidaskClub downgraded shares of Belden from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Belden from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $86.63.
In other Belden news, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $84.75, for a total transaction of $1,459,988.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $78.91, for a total transaction of $292,677.19. Following the transaction, the senior vice president now directly owns 4,967 shares in the company, valued at approximately $391,945.97. The disclosure for this sale can be found here. Insiders have sold 21,230 shares of company stock worth $1,775,189 in the last three months. Insiders own 1.31% of the company’s stock.
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Belden Inc (BDC) traded up $0.90 during midday trading on Wednesday, reaching $84.52. 210,800 shares of the company’s stock were exchanged, compared to its average volume of 291,677. Belden Inc has a one year low of $64.60 and a one year high of $86.31. The company has a current ratio of 2.26, a quick ratio of 1.79 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $3,526.58, a price-to-earnings ratio of 16.33 and a beta of 2.26.
Belden (NYSE:BDC) last issued its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.08. The business had revenue of $621.74 million for the quarter, compared to analyst estimates of $626.05 million. Belden had a net margin of 4.03% and a return on equity of 17.52%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. research analysts anticipate that Belden Inc will post 5.52 EPS for the current year.
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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