Shellback Capital Lp adds Belden (BDC) to its portfolio

Belden (BDC) : Shellback Capital Lp added new position in Belden during the most recent quarter end. The investment management firm now holds 226,969 shares of Belden which is valued at $16,387,162 , the company said in a statement filed on Aug 15, 2016 with the SEC.Belden makes up approximately 1.96% of Shellback Capital Lp’s portfolio.

Other Hedge Funds, Including , Princeton Portfolio Strategies Group reduced its stake in BDC by selling 1,830 shares or 10.1% in the most recent quarter. The Hedge Fund company now holds 16,280 shares of BDC which is valued at $1,175,416. Belden makes up approx 0.37% of Princeton Portfolio Strategies Group’s portfolio. Blackrock Japan Ltd added BDC to its portfolio by purchasing 640 company shares during the most recent quarter which is valued at $46,208. Thompson Siegel Walmsley added BDC to its portfolio by purchasing 39 company shares during the most recent quarter which is valued at $2,825.

Belden closed down -0.94 points or -1.26% at $73.65 with 3,85,107 shares getting traded on Thursday. Post opening the session at $74.63, the shares hit an intraday low of $71.86 and an intraday high of $74.96 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

Investors should note that on Aug 22, 2016, Belden announced a cash dividend of $0.0500. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 5, 2016.

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.

Leave a Reply

Belden - Is it time to Sell?

Top Brokerage Firms are advising their investors on Belden. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.