Lapides Asset Management LLC Sells 7,800 Shares of Belden Inc (BDC)
Lapides Asset Management LLC lowered its position in shares of Belden Inc (NYSE:BDC) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,900 shares of the industrial products company’s stock after selling 7,800 shares during the period. Belden makes up about 3.1% of Lapides Asset Management LLC’s holdings, making the stock its 10th largest position. Lapides Asset Management LLC’s holdings in Belden were worth $16,391,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in BDC. BlackRock Inc. increased its position in Belden by 22,743.7% in the first quarter. BlackRock Inc. now owns 4,264,460 shares of the industrial products company’s stock worth $295,057,000 after buying an additional 4,245,792 shares in the last quarter. Vanguard Group Inc. increased its position in Belden by 5.6% in the first quarter. Vanguard Group Inc. now owns 3,554,054 shares of the industrial products company’s stock worth $245,905,000 after buying an additional 189,152 shares in the last quarter. FMR LLC increased its position in Belden by 0.4% in the fourth quarter. FMR LLC now owns 2,433,423 shares of the industrial products company’s stock worth $181,947,000 after buying an additional 9,711 shares in the last quarter. State Street Corp increased its position in Belden by 1.7% in the first quarter. State Street Corp now owns 1,370,863 shares of the industrial products company’s stock worth $94,858,000 after buying an additional 22,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Belden by 17.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,131,832 shares of the industrial products company’s stock worth $78,312,000 after buying an additional 170,458 shares in the last quarter.
Shares of Belden Inc (NYSE BDC) traded up 2.93% during mid-day trading on Friday, reaching $76.18. The company’s stock had a trading volume of 1,121,996 shares. The firm’s 50-day moving average price is $72.81 and its 200 day moving average price is $73.00. The firm has a market cap of $3.22 billion, a P/E ratio of 28.66 and a beta of 2.29. Belden Inc has a 12-month low of $54.97 and a 12-month high of $81.33.
Belden (NYSE:BDC) last issued its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.03. The business had revenue of $551.40 million during the quarter, compared to analysts’ expectations of $551.14 million. Belden had a return on equity of 18.25% and a net margin of 5.80%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, analysts expect that Belden Inc will post $5.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.26%. Belden’s dividend payout ratio (DPR) is presently 7.55%.
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A number of research firms have weighed in on BDC. Goldman Sachs Group, Inc. (The) began coverage on Belden in a report on Friday. They issued a “buy” rating and a $93.00 target price on the stock. CL King began coverage on Belden in a report on Wednesday. They issued a “neutral” rating on the stock. Zacks Investment Research raised Belden from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th. Finally, Seaport Global Securities began coverage on Belden in a report on Thursday, March 2nd. They issued a “buy” rating and a $82.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $83.13.
Belden Company Profile
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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