Stanley Capital Management buys $4.2 Million stake in Belden (BDC)

Belden (BDC) : Stanley Capital Management scooped up 16,900 additional shares in Belden during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 70,000 shares of Belden which is valued at $4.2 Million.Belden makes up approximately 4.14% of Stanley Capital Management’s portfolio.

Other Hedge Funds, Including , Delphi Management Inc boosted its stake in BDC in the latest quarter, The investment management firm added 11,390 additional shares and now holds a total of 33,695 shares of Belden which is valued at $2 Million. Belden makes up approx 1.26% of Delphi Management Inc’s portfolio.Sg Americas Securities boosted its stake in BDC in the latest quarter, The investment management firm added 5,226 additional shares and now holds a total of 17,025 shares of Belden which is valued at $1 Million. Belden makes up approx 0.01% of Sg Americas Securities’s portfolio.Mutual Of America Capital Management boosted its stake in BDC in the latest quarter, The investment management firm added 1,016 additional shares and now holds a total of 28,897 shares of Belden which is valued at $1.7 Million. Belden makes up approx 0.04% of Mutual Of America Capital Management’s portfolio. Columbus Circle Investors added BDC to its portfolio by purchasing 18,786 company shares during the most recent quarter which is valued at $1.2 Million. Belden makes up approx 0.01% of Columbus Circle Investors’s portfolio.

Belden opened for trading at $63.26 and hit $64.13 on the upside on Wednesday, eventually ending the session at $63.85, with a gain of 0.76% or 0.48 points. The heightened volatility saw the trading volume jump to 2,28,166 shares. Company has a market cap of $2,686 M.

On the company’s financial health, Belden reported $1.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.95. The company had revenue of $241.49 million for the quarter, compared to analysts expectations of $541.12 million. The company’s revenue was down -55.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on Belden. Stifel Resumed Belden on Apr 4, 2016 to “Buy”, Price Target of the shares are set at $72.Company shares were Reiterated by Canaccord Genuity on Mar 31, 2016 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $60 .

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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