Whittier Trust Co. continued to hold its stake in shares of Belden Inc (NYSE:BDC) during the second quarter, according to its most recent Form 13F filing with the SEC. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company's stock valued at $132,000 after buying an additional 160 shares during the last quarter.
Several other hedge funds have also bought and sold shares of the stock. James Investment Research Inc.'s holdings in Belden were worth $141,000 at the end of the most recent quarter. State Treasurer State of MI now owns 17,400 shares of the industrial products company's stock worth $1,312,000 after buying an additional 300 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Belden by 2.8% in the second quarter. Bank of New York Mellon Corp increased its stake in shares of Belden by 27.8% in the first quarter. Nisa Investment Advisors LLC now owns 24,210 shares of the industrial products company's stock worth $1,803,000 after buying an additional 100 shares during the last quarter. State Treasurer State of MI boosted its position in Belden by 0.6% in the first quarter. RMB Capital Management LLC now owns 17,234 shares of the industrial products company's stock worth $1,192,000 after buying an additional 60 shares during the period. Nisa Investment Advisors LLC increased its stake in Belden by 0.4% in the second quarter. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company's stock worth $262,000 after buying an additional 140 shares during the period.
Shares of Belden (NYSE:BDC) traded down 1.51% on Thursday, reaching $72.53. The corporation had a trading volume of 383,609 Stocks. The stock's 50 day moving average is $74.56 and its 200 day moving average is $72.43. Belden Inc has a one year low of $60.06 and a one year high of $81.33. The firm has a market capitalization of $2.99 billion, a P/E ratio of 30.72 and a beta of 2.28.
Belden Inc (NYSE:BDC) issued an update on its third quarter earnings guidance on Wednesday morning. The industrial products company reported $1.29 EPS for the quarter, beating the Zacks' consensus estimate of $1.21 by $0.08. Belden had a return on equity of 16.31% and a net margin of 5.53%. The business had revenue of $610.63 million during the quarter, compared to analyst estimates of $608.16 million. During the same quarter in the previous year, the firm posted $1.54 EPS. The business's revenue was up 1.5% on a year-over-year basis. On average, equities research analysts predict that Belden Inc will post $5.44 earnings per share for the current fiscal year.
Belden announced that its Board of Directors has authorized a share buyback plan on Thursday, May 25th that allows the company to repurchase $200.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued. If you are reading this story on another publication, it was illegally stolen and republished in violation of United States & global trademark and copyright law.
A number of research analysts have recently commented on BDC shares. Guggenheim began coverage on shares of Belden in a research report on Tuesday, July 11th. Canaccord Genuity restated a "buy" rating and issued a $83.00 target price on shares of Belden in a research note on Friday, August 4th. Envestnet Asset Management Inc. bought a new position in shares of Belden during the fourth quarter valued at $105,000. BidaskClub lowered shares of Belden from a "hold" rating to a "sell" rating in a research note on Tuesday, August 1st. Analyst fixed "buy" recommendation and a $93.00 price objective on the company shares. Deutsche Bank AG upped their target price on shares of Belden from $85.00 to $92.00 and gave the stock a buy rating in a research report on Thursday, August 3rd. CL King began coverage on shares of Belden in a report on Wednesday, June 21st. They issued a neutral rating on the stock. Lastly, ValuEngine cut shares of Belden from a "buy" recommendation to a "hold" recommendation in a analysis report on early Thur, Jul 20th. The company now has a consensus rating of "Buy" and an average target price of $84.56. 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).