American Century Companies Inc. Has $15.62 Million Holdings in Belden Inc (BDC)
American Century Companies Inc. cut its holdings in Belden Inc (NYSE:BDC) by 21.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,944 shares of the industrial products company’s stock after selling 52,719 shares during the period. American Century Companies Inc. owned about 0.46% of Belden worth $15,618,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of BDC. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Belden by 10.1% in the second quarter. 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 in the last quarter. World Asset Management Inc acquired a new stake in Belden in the second quarter valued at $201,000. Riverhead Capital Management LLC raised its stake in Belden by 70.4% in the second quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock valued at $218,000 after buying an additional 1,197 shares in the last quarter. Greenwood Capital Associates LLC raised its stake in Belden by 0.5% in the second quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock valued at $225,000 after buying an additional 14 shares in the last quarter. Finally, Palouse Capital Management Inc. acquired a new stake in Belden in the third quarter valued at $225,000.
In related news, Chairman John S. Stroup sold 17,227 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $84.75, for a total transaction of $1,459,988.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Paul Keith Turner sold 3,709 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $78.91, for a total value of $292,677.19. Following the transaction, the senior vice president now directly owns 4,967 shares in the company, valued at approximately $391,945.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,230 shares of company stock worth $1,775,189. Corporate insiders own 1.31% of the company’s stock.
Several equities analysts have issued reports on BDC shares. Deutsche Bank AG raised their price objective on Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Belden from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Friday, November 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $88.00 price objective (up previously from $83.00) on shares of Belden in a report on Wednesday, September 13th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective on shares of Belden in a report on Monday, September 25th. Finally, ValuEngine raised Belden from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $86.63.
Belden Inc (NYSE BDC) opened at $83.62 on Friday. The stock has a market capitalization of $3,480.61, a PE ratio of 16.12 and a beta of 2.26. Belden Inc has a twelve month low of $64.60 and a twelve month high of $86.31. The company has a current ratio of 2.26, a quick ratio of 1.79 and a debt-to-equity ratio of 1.06.
Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.08. Belden had a return on equity of 17.52% and a net margin of 4.03%. The firm had revenue of $621.74 million for the quarter, compared to analyst estimates of $626.05 million. During the same quarter last year, the company posted $1.29 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. sell-side analysts forecast that Belden Inc will post 5.52 EPS for the current year.
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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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