Global X MANAGEMENT CO LLC increased its stake in shares of Belden Inc (NYSE:BDC) by 14.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,617 shares of the industrial products company’s stock after purchasing an additional 2,390 shares during the quarter. Global X MANAGEMENT CO LLC’s holdings in Belden were worth $1,499,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in BDC. Greenwood Capital Associates LLC increased its position in Belden by 0.5% in the 2nd quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 14 shares during the period. Teacher Retirement System of Texas increased its position in Belden by 0.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,372 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 15 shares during the period. Public Employees Retirement System of Ohio increased its position in Belden by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 26,132 shares of the industrial products company’s stock valued at $1,971,000 after acquiring an additional 90 shares during the period. Nisa Investment Advisors LLC increased its position in Belden by 0.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 24,210 shares of the industrial products company’s stock valued at $1,803,000 after acquiring an additional 100 shares during the period. Finally, Capstone Asset Management Co. increased its position in Belden by 4.2% in the 2nd quarter. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 140 shares during the period.
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Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Belden from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. TheStreet cut shares of Belden from a “b” rating to a “c+” rating in a research report on Wednesday, November 1st. Guggenheim restated a “buy” rating and issued a $90.00 price target on shares of Belden in a research report on Monday, September 25th. Canaccord Genuity restated a “buy” rating and issued a $88.00 price target (up from $83.00) on shares of Belden in a research report on Wednesday, September 13th. Finally, ValuEngine upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $86.63.
Belden Inc (NYSE BDC) traded up $0.30 on Wednesday, hitting $82.53. 141,200 shares of the stock traded hands, compared to its average volume of 294,101. Belden Inc has a 52 week low of $64.60 and a 52 week high of $86.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.79 and a current ratio of 2.26. The firm has a market capitalization of $3,467.96, a PE ratio of 16.06 and a beta of 2.26.
Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.08. Belden had a net margin of 4.03% and a return on equity of 17.52%. The company had revenue of $621.74 million during the quarter, compared to analysts’ expectations of $626.05 million. During the same period in the prior year, the company posted $1.29 earnings per share. Belden’s revenue for the quarter was up 3.4% compared to the same quarter last year. equities research analysts anticipate that Belden Inc will post 5.52 EPS for the current fiscal year.
In other news, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the sale, the senior vice president now directly owns 4,967 shares in the company, valued at $391,945.97. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $1,459,988.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,230 shares of company stock valued at $1,775,189. 1.31% of the stock is currently owned by corporate insiders.
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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