Lapides Asset Management LLC Grows Stock Holdings in Belden Inc. (NYSE:BDC)

Lapides Asset Management LLC lifted its position in Belden Inc. (NYSE:BDC) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 247,899 shares of the industrial products company’s stock after purchasing an additional 24,400 shares during the quarter. Belden comprises approximately 4.7% of Lapides Asset Management LLC’s portfolio, making the stock its 3rd largest holding. Lapides Asset Management LLC owned approximately 0.56% of Belden worth $8,069,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Michigan Retirement System grew its position in Belden by 30.0% in the second quarter. State of Michigan Retirement System now owns 13,914 shares of the industrial products company’s stock worth $453,000 after acquiring an additional 3,214 shares in the last quarter. Costello Asset Management INC purchased a new position in Belden in the second quarter worth $33,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Belden by 21.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,660 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 832 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Belden in the second quarter worth $29,000. Finally, First Trust Advisors LP purchased a new position in Belden in the second quarter worth $495,000.

Several research analysts recently issued reports on the stock. SunTrust Banks upped their target price on shares of Belden from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. cut their price target on shares of Belden from $40.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, July 7th. Loop Capital initiated coverage on shares of Belden in a research report on Monday, April 27th. They set a “buy” rating and a $44.00 price target for the company. Goldman Sachs Group lowered shares of Belden from a “neutral” rating to a “sell” rating and set a $30.00 price target for the company. in a research report on Monday, April 13th. Finally, ValuEngine lowered shares of Belden from a “hold” rating to a “sell” rating in a research report on Saturday. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.28.

Shares of Belden stock traded down $0.87 during trading on Friday, reaching $31.60. 393,409 shares of the stock were exchanged, compared to its average volume of 373,210. The company has a quick ratio of 1.63, a current ratio of 2.21 and a debt-to-equity ratio of 1.91. The stock’s fifty day moving average is $32.71 and its 200 day moving average is $37.97. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -2.70 and a beta of 1.78. Belden Inc. has a 1 year low of $25.54 and a 1 year high of $56.94.

Belden (NYSE:BDC) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.19. The company had revenue of $424.80 million during the quarter, compared to analyst estimates of $410.19 million. Belden had a negative net margin of 25.43% and a positive return on equity of 16.39%. Belden’s revenue for the quarter was down 33.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 earnings per share. Equities analysts forecast that Belden Inc. will post 2.77 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 18th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. Belden’s dividend payout ratio is currently 4.42%.

Belden Company Profile

Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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