TIAA CREF Investment Management LLC Trims Stake in Belden Inc (BDC)

TIAA CREF Investment Management LLC trimmed its stake in shares of Belden Inc (NYSE:BDC) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,672 shares of the industrial products company’s stock after selling 11,349 shares during the period. TIAA CREF Investment Management LLC owned about 0.28% of Belden worth $8,876,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BDC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Belden by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 160 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its stake in shares of Belden by 799.6% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 1,831 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Belden by 60.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 841 shares in the last quarter. World Asset Management Inc purchased a new position in shares of Belden during the 2nd quarter worth approximately $201,000. Finally, Riverhead Capital Management LLC increased its stake in shares of Belden by 70.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 1,197 shares in the last quarter.

In related news, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the sale, the senior vice president now directly owns 4,967 shares of the company’s stock, valued at $391,945.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.31% of the stock is owned by corporate insiders.

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A number of research analysts have recently weighed in on the stock. Guggenheim reissued a “buy” rating and set a $90.00 price objective on shares of Belden in a research note on Monday, September 25th. Canaccord Genuity reissued a “buy” rating and set a $83.00 price objective on shares of Belden in a research note on Friday, August 4th. Zacks Investment Research cut shares of Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Deutsche Bank AG raised their price objective on shares of Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut shares of Belden from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.88.

Belden Inc (NYSE:BDC) opened at 84.81 on Monday. Belden Inc has a 52 week low of $60.06 and a 52 week high of $84.90. The stock’s 50 day moving average is $78.15 and its 200-day moving average is $73.53. The stock has a market capitalization of $3.59 billion, a PE ratio of 36.87 and a beta of 2.26.

Belden (NYSE:BDC) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.21 by $0.08. Belden had a net margin of 5.53% and a return on equity of 16.31%. The business had revenue of $610.63 million during the quarter, compared to analyst estimates of $608.16 million. During the same period in the prior year, the business earned $1.54 earnings per share. The business’s quarterly revenue was up 1.5% on a yea

Several other hedge funds also recently bought and sold shares of BDC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Belden by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,744 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 160 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its stake in shares of Belden by 799.6% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,060 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 1,831 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Belden by 60.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,234 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 841 shares in the last quarter. World Asset Management Inc purchased a new position in shares of Belden during the 2nd quarter worth approximately $201,000. Finally, Riverhead Capital Management LLC increased its stake in shares of Belden by 70.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,897 shares of the industrial products company’s stock worth $218,000 after purchasing an additional 1,197 shares in the last quarter.

In related news, SVP Paul Keith Turner sold 3,709 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $78.91, for a total transaction of $292,677.19. Following the completion of the sale, the senior vice president now directly owns 4,967 shares of the company’s stock, valued at $391,945.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.31% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION WARNING: This article was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The original version of this article can be viewed at https://ledgergazette.com/2017/10/09/tiaa-cref-investment-management-llc-trims-stake-in-belden-inc-bdc.html.

A number of research analysts have recently weighed in on the stock. Guggenheim reissued a “buy” rating and set a $90.00 price objective on shares of Belden in a research note on Monday, September 25th. Canaccord Genuity reissued a “buy” rating and set a $83.00 price objective on shares of Belden in a research note on Friday, August 4th. Zacks Investment Research cut shares of Belden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Deutsche Bank AG raised their price objective on shares of Belden from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut shares of Belden from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.88.

Belden Inc (NYSE:BDC) opened at 84.81 on Monday. Belden Inc has a 52 week low of $60.06 and a 52 week high of $84.90. The stock’s 50 day moving average is $78.15 and its 200-day moving average is $73.53. The stock has a market capitalization of $3.59 billion, a PE ratio of 36.87 and a beta of 2.26.

Belden (NYSE:BDC) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.21 by $0.08. Belden had a net margin of 5.53% and a return on equity of 16.31%. The business had revenue of $610.63 million during the quarter, compared to analyst estimates of $608.16 million. During the same period in the prior year, the business earned $1.54 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts forecast that Belden Inc will post $5.44 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Friday, September 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.24%. The ex-dividend date was Thursday, September 14th. Belden’s dividend payout ratio is presently 8.66%.

About Belden

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).

Institutional Ownership by Quarter for Belden (NYSE:BDC)

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