JPMorgan Chase & Co. decreased its holdings in Belden Inc. (NYSE:BDC) by 51.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 51,566 shares of the industrial products company’s stock after selling 53,974 shares during the period. JPMorgan Chase & Co. owned approximately 0.13% of Belden worth $3,555,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Amundi Pioneer Asset Management Inc. acquired a new position in Belden during the 4th quarter worth about $197,000. Zeke Capital Advisors LLC acquired a new position in Belden during the 4th quarter worth about $202,000. Virtu Financial LLC acquired a new position in Belden during the 4th quarter worth about $267,000. Xact Kapitalforvaltning AB acquired a new position in Belden during the 4th quarter worth about $342,000. Finally, Meadow Creek Investment Management LLC lifted its holdings in Belden by 34.4% during the 4th quarter. Meadow Creek Investment Management LLC now owns 5,848 shares of the industrial products company’s stock worth $451,000 after buying an additional 1,496 shares during the period.
Belden traded down $0.81, reaching $64.00, during midday trading on Friday, MarketBeat Ratings reports. The stock had a trading volume of 291,118 shares, compared to its average volume of 468,690. Belden Inc. has a 12 month low of $53.65 and a 12 month high of $87.14. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 11.96 and a beta of 2.30. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.01 and a quick ratio of 1.45.
Belden (NYSE:BDC) last issued 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 analyst estimates of $584.55 million. During the same period in the previous year, the company posted $0.92 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. sell-side analysts expect that Belden Inc. will post 6.34 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 10th. Investors of record on Wednesday, June 20th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Tuesday, June 19th. Belden’s payout ratio is 3.74%.
Several research analysts have commented on the company. Zacks Investment Research downgraded Belden from a “buy” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity reissued a “buy” rating and issued a $88.00 price objective on shares of Belden in a research note on Thursday, May 3rd. ValuEngine downgraded Belden from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 9th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $90.00 price objective on shares of Belden in a research note on Friday, March 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Belden has a consensus rating of “Buy” and a consensus target price of $84.60.
In other news, Director Bryan C. Cressey bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The stock was acquired at an average cost of $54.31 per share, with a total value of $108,620.00. Following the transaction, the director now directly owns 123,875 shares of the company’s stock, valued at approximately $6,727,651.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.34% of the company’s stock.
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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