Mirae Asset Global Investments Co. Ltd. decreased its holdings in Belden Inc. (NYSE:BDC – Get Rating) by 9.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,718 shares of the industrial products company’s stock after selling 10,953 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Belden were worth $6,078,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Investing LLC acquired a new position in shares of Belden in the 1st quarter valued at approximately $236,000. Allianz Asset Management GmbH raised its position in shares of Belden by 991.6% in the 4th quarter. Allianz Asset Management GmbH now owns 78,933 shares of the industrial products company’s stock valued at $5,188,000 after buying an additional 71,702 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in shares of Belden in the 4th quarter valued at approximately $56,653,000. Twelve Points Wealth Management LLC acquired a new position in shares of Belden in the 4th quarter valued at approximately $446,000. Finally, Knowledge Leaders Capital LLC raised its position in shares of Belden by 11.7% in the 1st quarter. Knowledge Leaders Capital LLC now owns 13,567 shares of the industrial products company’s stock valued at $752,000 after buying an additional 1,423 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on BDC. TheStreet upgraded shares of Belden from a “c+” rating to a “b-” rating in a research report on Thursday, May 26th. The Goldman Sachs Group lifted their price target on shares of Belden from $59.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, August 4th. Finally, Truist Financial lifted their price target on shares of Belden from $67.00 to $77.00 in a report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Belden has an average rating of “Buy” and an average price target of $78.50.
Insiders Place Their Bets
Belden Trading Down 2.4 %
Shares of Belden stock opened at $61.42 on Friday. The firm has a market capitalization of $2.67 billion, a PE ratio of 32.33 and a beta of 1.33. The company has a current ratio of 2.39, a quick ratio of 1.72 and a debt-to-equity ratio of 1.08. The firm’s 50 day moving average is $65.50 and its 200 day moving average is $58.20. Belden Inc. has a 1 year low of $47.89 and a 1 year high of $70.97.
Belden (NYSE:BDC – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.17. Belden had a net margin of 3.37% and a return on equity of 25.73%. The company had revenue of $666.60 million for the quarter, compared to analyst estimates of $633.68 million. During the same period in the previous year, the firm posted $1.21 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. Equities research analysts forecast that Belden Inc. will post 6.04 earnings per share for the current fiscal year.
Belden Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Wednesday, September 14th. Belden’s payout ratio is 10.53%.
Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber, and home and building automation.
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