Eagle Boston Investment Management Inc. boosted its holdings in shares of Belden (NYSE:BDC) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,112 shares of the industrial products company’s stock after purchasing an additional 9,184 shares during the quarter. Belden makes up 1.3% of Eagle Boston Investment Management Inc.’s holdings, making the stock its 18th largest position. Eagle Boston Investment Management Inc. owned about 0.46% of Belden worth $13,244,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Belden by 41.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 718 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in Belden during the fourth quarter worth approximately $197,000. Zeke Capital Advisors LLC purchased a new position in Belden during the fourth quarter worth approximately $202,000. Virtu Financial LLC purchased a new position in Belden during the fourth quarter worth approximately $267,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Belden during the fourth quarter worth approximately $342,000.
In related news, SVP Ross Rosenberg sold 779 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $75.00, for a total value of $58,425.00. Following the completion of the sale, the senior vice president now owns 5,329 shares of the company’s stock, valued at $399,675. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bryan C. Cressey purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was bought at an average cost of $54.31 per share, with a total value of $108,620.00. Following the acquisition, the director now owns 123,875 shares of the company’s stock, valued at approximately $6,727,651.25. The disclosure for this purchase can be found here. 1.34% of the stock is owned by corporate insiders.
Shares of Belden stock opened at $57.22 on Friday. Belden has a 12 month low of $56.12 and a 12 month high of $56.66. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 10.23 and a beta of 2.37. The company has a quick ratio of 1.45, a current ratio of 2.01 and a debt-to-equity ratio of 1.29.
Belden (NYSE:BDC) last announced its earnings results on Wednesday, May 2nd. The industrial products company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. Belden had a return on equity of 19.45% and a net margin of 2.87%. The business had revenue of $605.57 million during the quarter, compared to analysts’ expectations of $584.55 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. equities research analysts anticipate that Belden will post 6.35 EPS for the current fiscal year.
A number of brokerages have issued reports on BDC. Canaccord Genuity reiterated a “buy” rating and set a $88.00 price target on shares of Belden in a research report on Thursday, May 3rd. Zacks Investment Research downgraded Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. ValuEngine cut Belden from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Stifel Nicolaus reissued a “buy” rating and set a $90.00 target price on shares of Belden in a report on Friday, March 30th. Finally, Cross Research raised Belden from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Belden presently has an average rating of “Buy” and an average price target of $90.83.
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.
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