Schwab Charles Investment Management Inc. grew its position in shares of Belden Inc. (NYSE:BDC) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,799 shares of the industrial products company’s stock after buying an additional 11,133 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.65% of Belden worth $22,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new position in shares of Belden during the 2nd quarter valued at $286,000. Lazard Asset Management LLC lifted its holdings in shares of Belden by 223.2% during the 2nd quarter. Lazard Asset Management LLC now owns 474,831 shares of the industrial products company’s stock valued at $35,816,000 after buying an additional 327,914 shares during the period. Rothschild Asset Management Inc. bought a new position in shares of Belden during the 3rd quarter valued at $9,356,000. William Blair Investment Management LLC lifted its holdings in shares of Belden by 8.3% during the 2nd quarter. William Blair Investment Management LLC now owns 338,909 shares of the industrial products company’s stock valued at $25,564,000 after buying an additional 26,047 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Belden by 1,189.7% during the 2nd quarter. American Century Companies Inc. now owns 246,663 shares of the industrial products company’s stock valued at $18,606,000 after buying an additional 227,538 shares during the period.
In other Belden news, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $84.75, for a total value of $1,459,988.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.31% of the company’s stock.
Belden (NYSE:BDC) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.08. Belden had a return on equity of 17.52% and a net margin of 4.03%. The company had revenue of $621.74 million for the quarter, compared to analysts’ expectations of $626.05 million. During the same period last year, the firm earned $1.29 EPS. Belden’s revenue for the quarter was up 3.4% compared to the same quarter last year. analysts anticipate that Belden Inc. will post 5.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 15th will be paid a $0.05 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Belden’s payout ratio is presently 13.79%.
Several research firms have recently weighed in on BDC. Cross Research cut Belden from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Canaccord Genuity reissued a “buy” rating and set a $94.00 price target on shares of Belden in a report on Friday, December 1st. Zacks Investment Research cut Belden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Stifel Nicolaus raised their target price on Belden from $90.00 to $97.00 and gave the stock an “in-line” rating in a report on Wednesday, December 6th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $90.00 target price on shares of Belden in a report on Wednesday, December 6th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $89.50.
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Belden Company Profile
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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