Prudential Financial Inc. raised its position in Belden Inc. (NYSE:BDC) by 34.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,074 shares of the company’s stock after buying an additional 23,100 shares during the period. Prudential Financial Inc. owned approximately 0.21% of Belden worth $5,438,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. LS Investment Advisors LLC increased its position in Belden by 72.2% in the second quarter. LS Investment Advisors LLC now owns 2,522 shares of the company’s stock valued at $152,000 after buying an additional 1,057 shares during the period. PNC Financial Services Group Inc. increased its position in Belden by 4.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,153 shares of the company’s stock valued at $190,000 after buying an additional 136 shares during the period. Bbva Compass Bancshares Inc. bought a new position in Belden during the second quarter valued at about $254,000. Strs Ohio increased its position in Belden by 7.5% in the second quarter. Strs Ohio now owns 5,700 shares of the company’s stock valued at $344,000 after buying an additional 400 shares during the period. Finally, CrestPoint Capital Management LLC increased its position in Belden by 9.4% in the second quarter. CrestPoint Capital Management LLC now owns 5,800 shares of the company’s stock valued at $350,000 after buying an additional 500 shares during the period.
Shares of Belden Inc. (NYSE:BDC) traded down 2.717% during midday trading on Thursday, hitting $64.975. 23,873 shares of the stock were exchanged. The firm has a 50 day moving average of $68.54 and a 200-day moving average of $65.99. Belden Inc. has a one year low of $36.51 and a one year high of $75.91. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 22.608 and a beta of 2.27.
Belden (NYSE:BDC) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.28. The business earned $601.60 million during the quarter, compared to analysts’ expectations of $582.25 million. Belden had a return on equity of 27.25% and a net margin of 5.29%. During the same quarter last year, the business posted $1.21 EPS. Equities analysts expect that Belden Inc. will post $5.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Tuesday, September 13th. Belden’s payout ratio is presently 6.94%.
Several research firms have recently issued reports on BDC. Zacks Investment Research upgraded shares of Belden from a “hold” rating to a “strong-buy” rating and set a $87.00 price objective on the stock in a report on Wednesday, July 20th. SunTrust Banks Inc. downgraded shares of Belden from a “buy” rating to a “neutral” rating and cut their price target for the stock from $84.00 to $79.00 in a report on Wednesday, September 7th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Belden in a report on Monday, June 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $77.00.
In other news, SVP Ross Rosenberg sold 2,274 shares of Belden stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $74.00, for a total value of $168,276.00. Following the completion of the transaction, the senior vice president now owns 7,603 shares in the company, valued at approximately $562,622. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.37% of the stock is owned by insiders.
Belden Inc (Belden) is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides transmission of data, sound and video for mission critical applications. The Company’s segments include Broadcast Solutions, Enterprise Connectivity Solutions, Industrial Connectivity Solutions, Industrial IT Solutions and Network Security Solutions.
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