Channing Capital Management LLC lessened its holdings in Belden Inc. (NYSE:BDC) by 16.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,031,372 shares of the industrial products company’s stock after selling 208,195 shares during the quarter. Belden accounts for approximately 2.7% of Channing Capital Management LLC’s holdings, making the stock its 5th largest holding. Channing Capital Management LLC owned 2.56% of Belden worth $73,650,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in Belden by 27.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,812 shares of the industrial products company’s stock worth $232,000 after acquiring an additional 811 shares in the last quarter. Strs Ohio boosted its holdings in Belden by 1.4% in the third quarter. Strs Ohio now owns 72,200 shares of the industrial products company’s stock worth $5,155,000 after acquiring an additional 1,000 shares in the last quarter. US Bancorp DE boosted its holdings in Belden by 83.0% in the second quarter. US Bancorp DE now owns 2,628 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 1,192 shares in the last quarter. American International Group Inc. boosted its holdings in Belden by 1.2% in the third quarter. American International Group Inc. now owns 108,690 shares of the industrial products company’s stock worth $7,762,000 after acquiring an additional 1,301 shares in the last quarter. Finally, HGK Asset Management Inc. boosted its holdings in Belden by 14.7% in the second quarter. HGK Asset Management Inc. now owns 10,587 shares of the industrial products company’s stock worth $647,000 after acquiring an additional 1,359 shares in the last quarter.
A number of research firms recently commented on BDC. Canaccord Genuity reaffirmed a “buy” rating and set a $88.00 target price on shares of Belden in a report on Wednesday, August 22nd. TheStreet raised Belden from a “c” rating to a “b-” rating in a report on Tuesday, August 21st. Zacks Investment Research downgraded Belden from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Guggenheim reaffirmed a “buy” rating and set a $77.00 target price on shares of Belden in a report on Wednesday, October 31st. Finally, ValuEngine downgraded Belden from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $73.40.
In other Belden news, SVP Roel Vestjens acquired 447 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was acquired at an average cost of $55.94 per share, for a total transaction of $25,005.18. Following the completion of the transaction, the senior vice president now directly owns 22,778 shares of the company’s stock, valued at $1,274,201.32. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman John S. Stroup acquired 9,250 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was acquired at an average price of $53.44 per share, with a total value of $494,320.00. Following the completion of the transaction, the chairman now directly owns 21,713 shares of the company’s stock, valued at $1,160,342.72. The disclosure for this purchase can be found here. Insiders bought 11,128 shares of company stock valued at $596,098 over the last 90 days. Company insiders own 1.34% of the company’s stock.
Shares of BDC stock opened at $55.78 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.90 and a quick ratio of 1.38. The company has a market cap of $2.25 billion, a P/E ratio of 9.27 and a beta of 2.42. Belden Inc. has a twelve month low of $50.71 and a twelve month high of $87.14.
Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.01. The business had revenue of $659.00 million during the quarter, compared to analysts’ expectations of $679.15 million. Belden had a return on equity of 21.28% and a net margin of 5.83%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 earnings per share. As a group, equities analysts predict that Belden Inc. will post 6.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 8th. Stockholders of record on Monday, December 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, December 14th. Belden’s dividend payout ratio (DPR) is presently 3.74%.
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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