Retirement Systems of Alabama decreased its position in shares of Belden Inc. (NYSE:BDC) by 1.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 51,288 shares of the industrial products company’s stock after selling 975 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Belden worth $2,754,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC purchased a new position in Belden in the 4th quarter worth approximately $55,000. Public Employees Retirement System of Ohio increased its stake in Belden by 12.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,185 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 244 shares during the period. Howe & Rusling Inc. increased its stake in Belden by 28.9% in the 4th quarter. Howe & Rusling Inc. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 646 shares during the period. Neuburgh Advisers LLC increased its stake in Belden by 12.1% in the 4th quarter. Neuburgh Advisers LLC now owns 3,840 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 416 shares during the period. Finally, Quantamental Technologies LLC purchased a new position in Belden in the 4th quarter worth approximately $200,000.
Shares of NYSE BDC traded down $1.40 during mid-day trading on Wednesday, hitting $55.50. 215,056 shares of the stock traded hands, compared to its average volume of 469,808. The company has a quick ratio of 1.40, a current ratio of 1.97 and a debt-to-equity ratio of 1.01. Belden Inc. has a 52 week low of $37.79 and a 52 week high of $76.39. The firm has a market capitalization of $2.17 billion, a PE ratio of 9.16 and a beta of 2.56.
Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. Belden had a return on equity of 20.17% and a net margin of 7.15%. The company had revenue of $587.18 million for the quarter, compared to analyst estimates of $577.17 million. During the same period in the previous year, the company posted $1.16 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. On average, research analysts anticipate that Belden Inc. will post 5.86 earnings per share for the current year.
A number of equities analysts have commented on the company. ValuEngine raised Belden from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 11th. Canaccord Genuity lifted their price target on Belden from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, February 21st. Zacks Investment Research upgraded Belden from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Longbow Research lowered Belden from a “buy” rating to a “neutral” rating and set a $63.27 price objective on the stock. in a research report on Thursday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $69.18.
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Belden Company Profile
Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.
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