Rail-splitter Capital Management Exits Position in Belden (BDC)

Belden (BDC) : Rail-splitter Capital Management has sold out all of its stake in Belden during the most recent quarter, according to the disclosure filed by the company on Aug 2, 2016 with the SEC. The investment management company has sold out 77,386 shares of Belden which is valued at $5,466,547.

Other Hedge Funds, Including , Channing Capital Management reduced its stake in BDC by selling 12,040 shares or 1.38% in the most recent quarter. The Hedge Fund company now holds 860,635 shares of BDC which is valued at $60,795,256. Belden makes up approx 2.44% of Channing Capital Management’s portfolio.Quadrant Capital Group boosted its stake in BDC in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 162 shares of Belden which is valued at $11,860. Belden makes up approx 0.01% of Quadrant Capital Group’s portfolio.Crestpoint Capital Management boosted its stake in BDC in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 5,800 shares of Belden which is valued at $400,548. Belden makes up approx 0.21% of Crestpoint Capital Management’s portfolio.

Belden closed down -0.51 points or -0.70% at $71.92 with 2,30,857 shares getting traded on Monday. Post opening the session at $72.42, the shares hit an intraday low of $71.61 and an intraday high of $73 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Belden reported $1.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.28 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.26. The company had revenue of $601.60 million for the quarter, compared to analysts expectations of $580.90 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS.

Belden Inc. is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides industry secure and reliable transmission of data sound and video for mission critical applications. The Company operates in four segments: Broadcast Solutions which provides production distribution and connectivity systems for television broadcast cable satellite and IPTV industries; Enterprise Connectivity Solutions which provides network infrastructure solutions for enterprise customers; Industrial Connectivity Solutions which provides infrastructure components and connectivity systems for a range of industrial automation applications and Industrial IT Solutions which provides mission-critical networking systems. Its brands include Belden Alpha Wire Mohawk West Penn Wire Hirschmann SignalTight GarrettCom Poliron Tofino PPC Grass Valley ProSoft Technology and Tripwire. It sells products to distributors end-users installers and OEMs.

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