Goldman Sachs Group Inc. boosted its holdings in shares of Belden (NYSE:BDC) by 90.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 268,359 shares of the industrial products company’s stock after acquiring an additional 127,291 shares during the quarter. Goldman Sachs Group Inc. owned 0.64% of Belden worth $20,709,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Delphi Management Inc. MA boosted its position in Belden by 2.6% during the 4th quarter. Delphi Management Inc. MA now owns 26,405 shares of the industrial products company’s stock worth $2,038,000 after acquiring an additional 669 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Belden by 41.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 718 shares during the period. New York State Common Retirement Fund boosted its position in Belden by 0.7% during the 3rd quarter. New York State Common Retirement Fund now owns 109,891 shares of the industrial products company’s stock worth $8,850,000 after acquiring an additional 809 shares during the period. FDx Advisors Inc. boosted its position in Belden by 22.8% during the 4th quarter. FDx Advisors Inc. now owns 4,654 shares of the industrial products company’s stock worth $359,000 after acquiring an additional 863 shares during the period. Finally, California Public Employees Retirement System boosted its position in Belden by 1.1% during the 3rd quarter. California Public Employees Retirement System now owns 84,642 shares of the industrial products company’s stock worth $6,816,000 after acquiring an additional 942 shares during the period.
In other news, SVP Ross Rosenberg sold 779 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $75.00, for a total transaction of $58,425.00. Following the completion of the sale, the senior vice president now directly owns 5,329 shares of the company’s stock, valued at approximately $399,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.31% of the stock is owned by company insiders.
Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $1.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.77 by ($0.15). Belden had a return on equity of 18.20% and a net margin of 3.90%. The firm had revenue of $604.88 million for the quarter, compared to analysts’ expectations of $648.92 million. During the same period last year, the business earned $1.42 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. equities research analysts anticipate that Belden will post 6.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, March 14th. Belden’s dividend payout ratio (DPR) is presently 14.60%.
A number of equities research analysts have commented on the company. ValuEngine lowered Belden from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Cross Research upgraded Belden from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of Belden in a research report on Wednesday, December 6th. Finally, Stifel Nicolaus raised their price objective on Belden from $90.00 to $97.00 and gave the stock an “in-line” rating in a research report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Belden has an average rating of “Hold” and a consensus target price of $93.00.
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Belden Company Profile
Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.
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