Lapides Asset Management LLC trimmed its stake in Belden Inc. (NYSE:BDC) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,100 shares of the industrial products company’s stock after selling 6,400 shares during the quarter. Belden accounts for 4.6% of Lapides Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Lapides Asset Management LLC’s holdings in Belden were worth $21,145,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. First Hawaiian Bank bought a new stake in Belden in the third quarter worth $159,000. US Bancorp DE boosted its holdings in Belden by 83.0% in the second quarter. US Bancorp DE now owns 2,628 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 1,192 shares in the last quarter. Howe & Rusling Inc. lifted its holdings in shares of Belden by 14,270.0% during the second quarter. Howe & Rusling Inc. now owns 2,874 shares of the industrial products company’s stock valued at $176,000 after purchasing an additional 2,854 shares in the last quarter. Balter Liquid Alternatives LLC bought a new position in shares of Belden during the second quarter valued at $210,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Belden during the second quarter valued at $225,000.
Shares of NYSE:BDC traded down $0.42 during midday trading on Tuesday, reaching $55.99. 12,080 shares of the company’s stock traded hands, compared to its average volume of 336,906. The company has a market cap of $2.30 billion, a P/E ratio of 10.51 and a beta of 2.28. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.79 and a quick ratio of 1.26. Belden Inc. has a one year low of $53.65 and a one year high of $87.14.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Stockholders of record on Tuesday, September 18th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 17th. Belden’s payout ratio is currently 3.74%.
BDC has been the topic of a number of research analyst reports. Canaccord Genuity set a $88.00 price target on Belden and gave the company a “buy” rating in a report on Wednesday, July 25th. Zacks Investment Research downgraded Belden from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price target on shares of Belden in a report on Wednesday, August 1st. ValuEngine raised Belden from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, TheStreet raised Belden from a “c” rating to a “b-” rating in a report on Tuesday, August 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $86.75.
Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.
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