The institutional investor owned 986,271 shares of the industrial products company's stock after selling 33,318 shares during the period. HM Capital Management LLC's holdings in Belden were worth $300,000 at the end of the most recent quarter. Point72 Asia Hong Kong Ltd boosted its stake in shares of Belden by 799.6% in the first quarter. BlackRock Inc. now owns 4,264,460 shares of the industrial products company's stock worth $295,057,000 after buying an additional 4,245,792 shares during the last 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. Finally, Nisa Investment Advisors LLC raised its stake in shares of Belden by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,131,832 shares of the industrial products company's stock valued at $78,312,000 after buying an additional 170,458 shares in the last quarter. Capstone Asset Management Co. increased its stake in Belden by 4.2% in the second quarter. Channing Capital Management LLC now owns 1,019,589 shares of the industrial products company's stock valued at $70,545,000 after buying an additional 63,365 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in shares of Belden during the fourth quarter worth approximately $1,798,000. 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 during the last quarter.
Shares of Belden (NYSE:BDC) traded down 1.51% on Thursday, reaching $72.53. The firm has a 50 day moving average of $74.56 and a 200-day moving average of $72.43. Belden Inc has a 12-month low of $60.06 and a 12-month high of $81.33. The stock has a market cap of $3.07 billion, a P/E ratio of 31.53 and a beta of 2.28.
Belden (NYSE:BDC) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (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 issued revenue guidance of $615-635 million, compared to the consensus revenue estimate of $621.92 million.Belden also updated its FY17 guidance to $5.35-5.55 EPS. During the same period past year, the firm earned $1.54 earnings per share. The company's quarterly revenue was up 1.5% compared to the same quarter past year.
According to Zacks, analysts expect that Belden will report full-year sales of $626.27 million for the current 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 repurchase authorization authorizes the industrial products company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued. Goldman Sachs Group, Inc. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and global copyright and trademark law. The original version of this news story can be viewed at https://baseballnewssource.com/markets/james-investment-research-inc-has-141000-position-in-belden-inc-nysebdc-updated-updated/1283631.html.
Canaccord Genuity reissued a "buy" rating and set a $83.00 price target on shares of Belden in a research note on Friday, August 4th. Deutsche Bank AG lifted their target price on shares of Belden from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Belden from a "hold" rating to a "strong-buy" rating and set a $86.00 target price for the company in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Guggenheim began coverage on Belden in a research report on Tuesday, July 11th. Canaccord Genuity reissued a "buy" rating and set a $83.00 price objective on shares of Belden in a report on Friday, August 4th. (The) began coverage on shares of Belden in a report on Friday, June 23rd. They issued a neutral rating on the stock. The company presently has an average rating of "Buy" and a consensus target price of $84.56. The company now has a consensus rating of "Buy" and an average target price of $84.56.