HGK Asset Management Inc. raised its holdings in Belden Inc. (NYSE:BDC) by 14.7% in the 2nd quarter, Holdings Channel reports. The firm owned 10,587 shares of the industrial products company’s stock after purchasing an additional 1,359 shares during the quarter. HGK Asset Management Inc.’s holdings in Belden were worth $647,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. US Bancorp DE grew its stake in shares of Belden by 83.0% during the second quarter. US Bancorp DE now owns 2,628 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 1,192 shares during the period. American Century Companies Inc. grew its stake in shares of Belden by 22.3% during the second quarter. American Century Companies Inc. now owns 672,298 shares of the industrial products company’s stock worth $41,091,000 after purchasing an additional 122,766 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Belden by 12.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 321,719 shares of the industrial products company’s stock worth $19,664,000 after purchasing an additional 34,738 shares during the period. Balter Liquid Alternatives LLC acquired a new stake in shares of Belden during the second quarter worth $210,000. Finally, Systematic Financial Management LP grew its stake in shares of Belden by 46.8% during the second quarter. Systematic Financial Management LP now owns 187,289 shares of the industrial products company’s stock worth $11,447,000 after purchasing an additional 59,669 shares during the period.
NYSE:BDC opened at $69.03 on Tuesday. Belden Inc. has a 1 year low of $53.65 and a 1 year high of $87.14. The company has a quick ratio of 1.26, a current ratio of 1.79 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 12.90 and a beta of 2.23.
Belden (NYSE:BDC) last posted its earnings results on Wednesday, August 1st. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.06. Belden had a return on equity of 20.50% and a net margin of 2.52%. The firm had revenue of $668.64 million during the quarter, compared to analysts’ expectations of $661.83 million. During the same period in the previous year, the firm earned $1.29 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. equities research analysts anticipate that Belden Inc. will post 6.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Tuesday, September 18th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. Belden’s payout ratio is 3.74%.
A number of brokerages recently commented on BDC. Zacks Investment Research raised Belden from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Friday, August 3rd. ValuEngine raised Belden from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective on shares of Belden in a research note on Wednesday, August 1st. Finally, Canaccord Genuity set a $88.00 price objective on Belden and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Belden currently has a consensus rating of “Buy” and a consensus target price of $86.75.
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.
Read More: How Do You Make Money With Penny Stocks?
Want to see what other hedge funds are holding BDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Belden Inc. (NYSE:BDC).
Receive News & Ratings for Belden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden and related companies with MarketBeat.com's FREE daily email newsletter.