Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys Shares of 23,655 Belden Inc. (BDC)
Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Belden Inc. (NYSE:BDC) during the third quarter, Holdings Channel reports. The firm bought 23,655 shares of the company’s stock, valued at approximately $1,632,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.06% of Belden as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Panagora Asset Management Inc. raised its stake in shares of Belden by 176.6% in the second quarter. Panagora Asset Management Inc. now owns 2,365 shares of the company’s stock worth $143,000 after buying an additional 1,510 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Belden by 14.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,411 shares of the company’s stock worth $146,000 after buying an additional 298 shares during the period. LS Investment Advisors LLC raised its stake in shares of Belden by 72.2% in the second quarter. LS Investment Advisors LLC now owns 2,522 shares of the company’s stock worth $152,000 after buying an additional 1,057 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Belden by 7.1% in the third quarter. Advisors Asset Management Inc. now owns 2,489 shares of the company’s stock worth $172,000 after buying an additional 165 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Belden by 4.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,153 shares of the company’s stock worth $190,000 after buying an additional 136 shares during the period.
Shares of Belden Inc. (NYSE:BDC) traded down 0.21% during trading on Tuesday, hitting $74.30. 241,559 shares of the stock were exchanged. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 23.07 and a beta of 2.26. Belden Inc. has a 12-month low of $36.51 and a 12-month high of $75.91. The stock’s 50 day moving average is $67.94 and its 200-day moving average is $67.34.
Belden (NYSE:BDC) last released its earnings results on Wednesday, November 2nd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Belden had a net margin of 6.14% and a return on equity of 23.44%. The business had revenue of $601.10 million for the quarter, compared to the consensus estimate of $606.66 million. During the same period in the previous year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Belden Inc. will post $5.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Friday, December 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. Belden’s payout ratio is currently 6.21%.
A number of equities analysts have weighed in on BDC shares. SunTrust Banks Inc. lowered shares of Belden from a “buy” rating to a “neutral” rating and decreased their price target for the company from $84.00 to $79.00 in a report on Wednesday, September 7th. Zacks Investment Research lowered shares of Belden from a “buy” rating to a “hold” rating in a report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $77.00.
In other news, Director Judy L. Brown sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $68.00, for a total transaction of $612,000.00. Following the sale, the director now owns 22,268 shares in the company, valued at $1,514,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John S. Stroup sold 21,210 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $72.07, for a total transaction of $1,528,604.70. Following the sale, the insider now owns 69,969 shares in the company, valued at approximately $5,042,665.83. The disclosure for this sale can be found here. 1.37% of the stock is currently owned by corporate insiders.
Belden Company Profile
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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