Foundry Partners LLC Has $12.47 Million Holdings in Belden Inc. (BDC)
Foundry Partners LLC grew its position in shares of Belden Inc. (NYSE:BDC) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 161,529 shares of the industrial products company’s stock after buying an additional 2,384 shares during the period. Foundry Partners LLC’s holdings in Belden were worth $12,465,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in BDC. Ladenburg Thalmann Financial Services Inc. raised its position in Belden by 550.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,634 shares of the industrial products company’s stock worth $212,000 after buying an additional 2,229 shares during the last quarter. Riverhead Capital Management LLC raised its position in Belden by 70.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock worth $218,000 after buying an additional 1,197 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Belden during the 3rd quarter worth $224,000. Palouse Capital Management Inc. purchased a new position in Belden during the 3rd quarter worth $225,000. Finally, Shelton Capital Management purchased a new position in Belden during the 2nd quarter worth $242,000.
BDC has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Belden from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. TheStreet cut shares of Belden from a “b” rating to a “c+” rating in a research note on Wednesday, November 1st. Cross Research cut shares of Belden from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $94.00 price target on shares of Belden in a research note on Friday, December 1st. Finally, Stifel Nicolaus upped their price target on shares of Belden from $90.00 to $97.00 and gave the stock an “in-line” rating in a research note on Wednesday, December 6th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $89.50.
Belden (NYSE:BDC) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.08. Belden had a net margin of 4.03% and a return on equity of 17.52%. The business had revenue of $621.74 million for the quarter, compared to analysts’ expectations of $626.05 million. During the same period in the prior year, the company posted $1.29 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. research analysts predict that Belden Inc. will post 5.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Friday, December 15th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. Belden’s payout ratio is 13.79%.
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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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