Victory Capital Management Inc. lowered its stake in shares of Belden Inc (NYSE:BDC) by 20.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 157,730 shares of the industrial products company’s stock after selling 40,074 shares during the quarter. Victory Capital Management Inc. owned approximately 0.37% of Belden worth $12,702,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of BDC. Teachers Advisors LLC grew its position in Belden by 3.1% during the first quarter. Teachers Advisors LLC now owns 72,017 shares of the industrial products company’s stock valued at $4,983,000 after buying an additional 2,162 shares during the period. Legal & General Group Plc grew its position in Belden by 20.9% during the first quarter. Legal & General Group Plc now owns 28,792 shares of the industrial products company’s stock valued at $1,992,000 after buying an additional 4,980 shares during the period. Capstone Asset Management Co. grew its position in Belden by 4.2% during the second quarter. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company’s stock valued at $262,000 after buying an additional 140 shares during the period. Oregon Public Employees Retirement Fund grew its position in Belden by 4.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 15,375 shares of the industrial products company’s stock valued at $1,160,000 after buying an additional 702 shares during the period. Finally, LS Investment Advisors LLC grew its position in Belden by 19.7% during the second quarter. LS Investment Advisors LLC now owns 3,364 shares of the industrial products company’s stock valued at $254,000 after buying an additional 554 shares during the period.
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BDC has been the subject of several research reports. Guggenheim restated a “buy” rating and set a $90.00 price target on shares of Belden in a research report on Monday, September 25th. Canaccord Genuity restated a “buy” rating and set a $88.00 price target (up previously from $83.00) on shares of Belden in a research report on Wednesday, September 13th. ValuEngine upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Deutsche Bank AG increased their target price on shares of Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Belden from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $86.63.
Shares of Belden Inc (NYSE:BDC) opened at $82.23 on Tuesday. Belden Inc has a fifty-two week low of $64.60 and a fifty-two week high of $86.31. The stock has a market cap of $3,521.10, a PE ratio of 16.31 and a beta of 2.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.26 and a quick ratio of 1.79.
Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.08. Belden had a net margin of 4.03% and a return on equity of 17.52%. The firm had revenue of $621.74 million for the quarter, compared to the consensus estimate of $626.05 million. During the same period in the prior year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. research analysts predict that Belden Inc will post 5.52 EPS for the current year.
In related news, SVP Paul Keith Turner sold 3,709 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $78.91, for a total value of $292,677.19. Following the sale, the senior vice president now directly owns 4,967 shares of the company’s stock, valued at $391,945.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John S. Stroup sold 17,227 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $84.75, for a total transaction of $1,459,988.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,230 shares of company stock worth $1,775,189. Insiders own 1.31% of the company’s stock.
Belden Company Profile
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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