TFS Capital LLC bought a new stake in shares of Belden Inc. (NYSE:BDC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,545 shares of the industrial products company’s stock, valued at approximately $384,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. purchased a new position in Belden during the fourth quarter valued at $105,000. James Investment Research Inc. purchased a new position in Belden during the first quarter valued at $130,000. Elkfork Partners LLC purchased a new position in Belden during the fourth quarter valued at $159,000. MUFG Americas Holdings Corp purchased a new position in Belden during the fourth quarter valued at $175,000. Finally, Doheny Asset Management CA purchased a new position in Belden during the third quarter valued at $200,000.
Belden Inc. (NYSE:BDC) traded up 1.12% on Friday, hitting $67.99. 282,207 shares of the company were exchanged. Belden Inc. has a 52-week low of $54.97 and a 52-week high of $81.33. The firm has a 50 day moving average of $69.26 and a 200-day moving average of $72.34. The stock has a market cap of $2.87 billion, a PE ratio of 25.58 and a beta of 2.24.
Belden (NYSE:BDC) last issued its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $551.40 million during the quarter, compared to analyst estimates of $551.14 million. Belden had a net margin of 5.43% and a return on equity of 20.29%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, equities analysts expect that Belden Inc. will post $5.10 earnings per share for the current fiscal year.
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BDC has been the topic of several recent analyst reports. Seaport Global Securities began coverage on shares of Belden in a report on Thursday, March 2nd. They issued a “buy” rating and a $82.00 target price on the stock. Drexel Hamilton began coverage on shares of Belden in a report on Friday, February 10th. They issued a “hold” rating on the stock. Zacks Investment Research upgraded shares of Belden from a “sell” rating to a “hold” rating in a report on Tuesday, March 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Belden in a report on Monday, February 13th. They issued a “neutral” rating and a $76.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Belden presently has a consensus rating of “Buy” and an average target price of $81.71.
Belden Company Profile
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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