Phocas Financial Corp. Buys Shares of 77,540 Belden Inc. (BDC)
Phocas Financial Corp. acquired a new stake in shares of Belden Inc. (NYSE:BDC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 77,540 shares of the industrial products company’s stock, valued at approximately $4,739,000. Phocas Financial Corp. owned about 0.19% of Belden at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of BDC. PNC Financial Services Group Inc. grew its holdings in shares of Belden by 27.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,812 shares of the industrial products company’s stock worth $232,000 after purchasing an additional 811 shares during the period. Brinker Capital Inc. boosted its holdings in Belden by 13.5% in the 1st quarter. Brinker Capital Inc. now owns 9,157 shares of the industrial products company’s stock worth $631,000 after acquiring an additional 1,091 shares during the period. US Bancorp DE boosted its holdings in Belden by 83.0% in the 2nd 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 during the period. Russell Investments Group Ltd. boosted its holdings in Belden by 5.9% in the 1st quarter. Russell Investments Group Ltd. now owns 23,464 shares of the industrial products company’s stock worth $1,617,000 after acquiring an additional 1,317 shares during the period. Finally, HGK Asset Management Inc. boosted its holdings in Belden by 14.7% in the 2nd quarter. HGK Asset Management Inc. now owns 10,587 shares of the industrial products company’s stock worth $647,000 after acquiring an additional 1,359 shares during the period.
Several equities analysts have recently commented on the company. Guggenheim reiterated a “buy” rating and set a $90.00 target price on shares of Belden in a research note on Wednesday, August 1st. Canaccord Genuity set a $88.00 target price on Belden and gave the company a “buy” rating in a research note on Wednesday, July 25th. Zacks Investment Research cut Belden from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. TheStreet upgraded Belden from a “c” rating to a “b-” rating in a research note on Tuesday, August 21st. Finally, ValuEngine raised Belden from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Belden has a consensus rating of “Buy” and a consensus price target of $86.75.
Belden (NYSE:BDC) last issued its earnings results on Wednesday, August 1st. The industrial products company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.06. Belden had a return on equity of 20.50% and a net margin of 2.52%. The firm had revenue of $668.64 million for the quarter, compared to analyst estimates of $661.83 million. During the same period last year, the company earned $1.29 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts forecast that Belden Inc. will post 6.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 4th. Stockholders of record on Tuesday, September 18th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, September 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.33%. Belden’s payout ratio is 3.74%.
Belden Company Profile
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.
Further Reading: How is the S&P 500 index different from the DJIA?
Receive News & Ratings for Belden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden and related companies with MarketBeat.com's FREE daily email newsletter.