Whittier Trust Co. continued to hold its stake in shares of Belden Inc (NYSE:BDC) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 986,271 shares of the industrial products company's stock after selling 33,318 shares during the period. BlackRock Inc. increased its stake in shares of Belden by 22,743.7% in the first quarter. The company had a trading volume of 383,609 shares. Point72 Asia Hong Kong Ltd raised its position in Belden by 799.6% in the first quarter. State Treasurer State of MI now owns 17,400 shares of the industrial products company's stock worth $1,312,000 after buying an additional 300 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Belden by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 24,210 shares of the industrial products company's stock worth $1,803,000 after buying an additional 100 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Belden during the fourth quarter worth about $105,000. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company's stock worth $262,000 after buying an additional 140 shares during the period. Vanguard Group Inc. increased its stake in shares of Belden by 5.6% in the first quarter. The fund owned 1,875 shares of the industrial products company's stock at the end of the second quarter.
Belden Inc (NYSE:BDC) opened at 71.45 on Friday. The firm has a 50-day moving average price of $74.56 and a 200 day moving average price of $72.43. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 31.07 and a beta of 2.28. Belden Inc has a 12-month low of $60.06 and a 12-month high of $81.33.
Belden Inc (NYSE:BDC) issued an update on its third quarter earnings guidance on Wednesday morning. The industrial products company reported $1.29 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.21 by $0.08. The firm had revenue of $610.63 million during the quarter, compared to analyst estimates of $608.16 million. Belden had a net margin of 5.53% and a return on equity of 16.31%. The company's quarterly revenue was up 1.5% compared to the same quarter past year. During the same period past year, the company posted $1.54 EPS. Equities analysts expect that Belden Inc will post $5.44 EPS for the current fiscal year.
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Belden declared that its Board of Directors has approved a stock repurchase program on Thursday, May 25th that permits the company to repurchase $200.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and worldwide copyright and trademark law. The legal version of this report can be read at https://www.baseball-news-blog.com/2017/08/12/belden-inc-bdc-is-channing-capital-management-llcs-2nd-largest-position-updated.html.
BDC has been the discussion subject of Quite a few recent brokerage firm research. ValuEngine cut Belden from a "buy" rating to a "hold" rating in a report on Thursday, July 20th.
COPYRIGHT VIOLATION WARNING: "Belden Inc (NYSE:BDC) Shares Bought by Louisiana State Employees Retirement System" was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. (The) started coverage on Belden in a research note on Friday, June 23rd. They set a "buy" rating and a $93.00 price objective for the company. Guggenheim began coverage on shares of Belden in a research report on Tuesday, July 11th. They issued a buy rating and a $90.00 target price on the stock. Canaccord Genuity restated a "buy" rating and set a $83.00 target price on shares of Belden in a research report on Friday, August 4th. They issued a "neutral" rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Belden presently has a consensus rating of "Buy" and a consensus target price of $84.56. 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).