Belden Inc. (BDC) Position Increased by Comerica Bank

Comerica Bank boosted its stake in Belden Inc. (NYSE:BDC) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,532 shares of the industrial products company’s stock after buying an additional 13,098 shares during the quarter. Comerica Bank owned approximately 0.25% of Belden worth $5,288,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First Hawaiian Bank acquired a new stake in Belden in the 3rd quarter valued at $159,000. Howe & Rusling Inc. boosted its stake in Belden by 28.9% in the fourth quarter. Howe & Rusling Inc. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 646 shares in the last quarter. Princeton Portfolio Strategies Group LLC acquired a new position in Belden in the third quarter worth $260,000. Commonwealth Bank of Australia acquired a new position in Belden in the third quarter worth $321,000. Finally, Quantamental Technologies LLC acquired a new position in Belden in the fourth quarter worth $200,000.

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A number of research firms have commented on BDC. Zacks Investment Research lowered Belden from a “hold” rating to a “sell” rating in a research note on Wednesday. Canaccord Genuity boosted their price objective on Belden from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday. Longbow Research lowered Belden from a “buy” rating to a “neutral” rating and set a $63.27 price objective on the stock. in a research note on Thursday. SunTrust Banks boosted their price objective on Belden to $70.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Seaport Global Securities reissued a “buy” rating on shares of Belden in a research note on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Belden currently has a consensus rating of “Hold” and an average price target of $72.15.

BDC stock opened at $60.23 on Friday. The firm has a market cap of $2.38 billion, a PE ratio of 9.94 and a beta of 2.59. Belden Inc. has a twelve month low of $37.79 and a twelve month high of $78.81. The company has a quick ratio of 1.38, a current ratio of 1.76 and a debt-to-equity ratio of 1.05.

Belden (NYSE:BDC) last released its earnings results on Wednesday, February 20th. The industrial products company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. The company had revenue of $655.39 million during the quarter, compared to the consensus estimate of $661.84 million. Belden had a return on equity of 21.37% and a net margin of 6.22%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 earnings per share. On average, equities research analysts predict that Belden Inc. will post 5.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Thursday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.33%. Belden’s payout ratio is currently 3.30%.

Belden announced that its board has authorized a share repurchase program on Thursday, November 29th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 13.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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About Belden

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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