The Argentus Capital Management LLC Acquires Shares of 10,545 Belden Inc. (BDC)

The Argentus Capital Management LLC Acquires Shares of 10,545 Belden Inc. (BDC)

Argentus Capital Management LLC acquired a new stake in shares of Belden Inc. (NYSE:BDC) during the third quarter, Holdings Channel reports. The fund acquired 10,545 shares of the company’s stock, valued at approximately $727,000.

A number of other institutional investors also recently modified their holdings of BDC. LS Investment Advisors LLC boosted its position in shares of Belden by 72.2% in the second quarter. LS Investment Advisors LLC now owns 2,522 shares of the company’s stock valued at $152,000 after buying an additional 1,057 shares during the period. RS Investment Management Co. LLC boosted its position in shares of Belden by 159.7% in the second quarter. RS Investment Management Co. LLC now owns 249,545 shares of the company’s stock valued at $15,065,000 after buying an additional 153,470 shares during the period. Smith Asset Management Group LP bought a new position in shares of Belden during the second quarter valued at $632,000. American Century Companies Inc. boosted its position in shares of Belden by 0.8% in the second quarter. American Century Companies Inc. now owns 265,435 shares of the company’s stock valued at $16,024,000 after buying an additional 2,139 shares during the period. Finally, First Midwest Bank Trust Division boosted its position in shares of Belden by 47.3% in the second quarter. First Midwest Bank Trust Division now owns 12,439 shares of the company’s stock valued at $751,000 after buying an additional 3,994 shares during the period.

Shares of Belden Inc. (NYSE:BDC) traded down 1.39% during midday trading on Thursday, reaching $75.70. The company had a trading volume of 175,104 shares. Belden Inc. has a 12-month low of $36.51 and a 12-month high of $81.33. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 23.50 and a beta of 2.30. The company has a 50 day moving average of $76.89 and a 200 day moving average of $70.99.

Belden (NYSE:BDC) last released its earnings results on Wednesday, November 2nd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Belden had a return on equity of 23.44% and a net margin of 6.14%. The firm had revenue of $601.10 million for the quarter, compared to analysts’ expectations of $606.66 million. During the same period in the prior year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts anticipate that Belden Inc. will post $5.24 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Friday, December 16th were paid a $0.05 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.26%. Belden’s dividend payout ratio is currently 6.21%.

BDC has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price objective on Belden from $86.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, December 6th. Canaccord Genuity reiterated a “buy” rating and set a $83.00 target price on shares of Belden in a research note on Tuesday, December 6th. Zacks Investment Research upgraded Belden from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 6th. Finally, Deutsche Bank AG initiated coverage on Belden in a research note on Thursday, December 15th. They set a “buy” rating and a $85.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Belden currently has a consensus rating of “Buy” and a consensus price target of $82.80.

In other news, Director Judy L. Brown sold 9,000 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $76.50, for a total value of $688,500.00. Following the sale, the director now directly owns 13,268 shares of the company’s stock, valued at $1,015,002. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christoph Gusenleitner sold 3,720 shares of the stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $78.24, for a total value of $291,052.80. Following the completion of the sale, the executive vice president now directly owns 4,548 shares in the company, valued at $355,835.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,531 shares of company stock worth $6,722,354. Insiders own 1.37% of the company’s stock.

About Belden

Belden Inc (Belden) is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides transmission of data, sound and video for mission critical applications. The Company’s segments include Broadcast Solutions, Enterprise Connectivity Solutions, Industrial Connectivity Solutions, Industrial IT Solutions and Network Security Solutions.

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