Belden Inc (NYSE:BDC) Shares Bought by Louisiana State Employees Retirement System

14 Août, 2017, 01:28 | Author: Marc Bacque

The institutional investor owned 2,045 shares of the industrial products company's stock at the end of the second quarter.

Several other hedge funds have also recently bought and sold shares of the company. Legato Capital Management LLC acquired a new position in shares of Belden during the second quarter worth approximately $543,000. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company's stock valued at $143,000 after buying an additional 1,831 shares during the last quarter. Norges Bank acquired a new stake in Belden during the fourth quarter worth about $32,808,000. State Treasurer State of MI raised its stake in shares of Belden by 1.8% in the second quarter. Greenwood Capital Associates LLC now owns 2,975 shares of the industrial products company's stock worth $206,000 after buying an additional 149 shares in the last quarter. Finally, Greenwood Capital Associates LLC increased its stake in Belden by 5.3% in the first quarter. State Treasurer State of MI now owns 17,100 shares of the industrial products company's stock worth $1,183,000 after buying an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Belden by 10.1% in the second quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the industrial products company's stock worth $830,000 after buying an additional 300 shares during the period.

Shares of Belden Inc (BDC) traded up 1.33% on Friday, hitting $71.45. The corporation had a trading volume of 383,609 Stocks. The stock's 50 Day SMA price is $74.63 and its 200 SMA price is $72.47. Belden Inc has a one year low of $60.06 and a one year high of $81.33. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 31.07 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 Thomson Reuters' 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 company had revenue of $610.63 million for the quarter, compared to analyst estimates of $608.16 million. During the same quarter a year ago, the business posted $1.54 EPS. The company's quarterly revenue was up 1.5% compared to the same quarter previous year. On average, equities analysts expect that Belden will post $5.44 earnings per share for the current year.

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Belden declared that its Board of Directors has approved a stock repurchase program on Thursday, May 25th that permits the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase up to 6.8% of its Stocks through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

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Media headlines about Belden (NYSE:BDC) have trended somewhat positive recently, Accern reports. Guggenheim started coverage on shares of Belden in a report on Tuesday, July 11th. They issued a buy rating and a $90.00 target price on the stock. Goldman Sachs Group, (The) assumed coverage on stocks of Belden in a study report published on Fri, Jun 23rd. BidaskClub downgraded shares of Belden from a "hold" rating to a "sell" rating in a report on Tuesday, August 1st. The company presently has an average rating of "Buy" and a consensus target price of $84.56. They issued a neutral rating on the stock. Research Firm Zacks boosted Belden from a "hold" recommendation to a "strong-buy" recommendation and fixed a $86.00 price objective on the company shares in a study report on early Tue, Jul 11th. Finally, ValuEngine lowered shares of Belden from a buy rating to a hold rating in a research report on Thursday, July 20th. Belden now has a average recommendation of "Buy" and an average price objective 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).

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