Ameriprise Financial Inc. Cuts Stake in Belden Inc (BDC)

Ameriprise Financial Inc. lessened its holdings in Belden Inc (NYSE:BDC) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 344,015 shares of the industrial products company’s stock after selling 4,982 shares during the period. Ameriprise Financial Inc. owned about 0.81% of Belden worth $27,704,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BDC. Janus Henderson Group PLC purchased a new position in shares of Belden in the 2nd quarter valued at $369,478,000. Boston Partners raised its stake in shares of Belden by 231.9% in the 3rd quarter. Boston Partners now owns 2,264,337 shares of the industrial products company’s stock valued at $182,347,000 after acquiring an additional 1,582,031 shares during the period. Lazard Asset Management LLC raised its stake in shares of Belden by 223.2% in the 2nd quarter. Lazard Asset Management LLC now owns 474,831 shares of the industrial products company’s stock valued at $35,816,000 after acquiring an additional 327,914 shares during the period. Macquarie Group Ltd. purchased a new position in shares of Belden in the 2nd quarter valued at $23,082,000. Finally, Royal Bank of Canada raised its stake in shares of Belden by 3,024.6% in the 2nd quarter. Royal Bank of Canada now owns 236,942 shares of the industrial products company’s stock valued at $17,873,000 after acquiring an additional 229,359 shares during the period.

BDC has been the topic of a number of research reports. Cross Research downgraded shares of Belden from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Belden from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and issued a $94.00 target price on shares of Belden in a research note on Friday, December 1st. Guggenheim reissued a “buy” rating and issued a $90.00 target price on shares of Belden in a research note on Monday, September 25th. Finally, ValuEngine raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $89.50.

In related news, SVP Paul Keith Turner sold 3,709 shares of Belden stock in a transaction on Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the sale, the senior vice president now owns 4,967 shares of the company’s stock, valued at approximately $391,945.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John S. Stroup sold 17,227 shares of Belden stock in a transaction on Monday, October 9th. The stock was sold at an average price of $84.75, for a total transaction of $1,459,988.25. The disclosure for this sale can be found here. Insiders own 1.31% of the company’s stock.

Shares of Belden Inc (BDC) opened at $82.29 on Thursday. Belden Inc has a one year low of $64.60 and a one year high of $86.85. The stock has a market cap of $3,482.30, a price-to-earnings ratio of 16.13 and a beta of 2.26. The company has a current ratio of 2.26, a quick ratio of 1.79 and a debt-to-equity ratio of 1.06.

Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.08. Belden had a net margin of 4.03% and a return on equity of 17.52%. The firm had revenue of $621.74 million for the quarter, compared to the consensus estimate of $626.05 million. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. analysts expect that Belden Inc will post 5.52 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.24%. The ex-dividend date is Thursday, December 14th. Belden’s dividend payout ratio (DPR) is 13.79%.

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About Belden

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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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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