Belden (BDC) Position Increased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in Belden (NYSE:BDC) by 131.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 264,940 shares of the industrial products company’s stock after purchasing an additional 150,280 shares during the quarter. Victory Capital Management Inc. owned 0.63% of Belden worth $18,265,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Boston Partners raised its position in Belden by 12.7% in the 1st quarter. Boston Partners now owns 3,224,135 shares of the industrial products company’s stock worth $222,272,000 after purchasing an additional 362,772 shares during the period. American Century Companies Inc. raised its position in Belden by 107.6% in the 1st quarter. American Century Companies Inc. now owns 549,532 shares of the industrial products company’s stock worth $37,885,000 after purchasing an additional 284,777 shares during the period. Lapides Asset Management LLC raised its position in Belden by 1.0% in the 1st quarter. Lapides Asset Management LLC now owns 167,600 shares of the industrial products company’s stock worth $11,554,000 after purchasing an additional 1,600 shares during the period. Comerica Bank raised its position in Belden by 5.6% in the 1st quarter. Comerica Bank now owns 98,519 shares of the industrial products company’s stock worth $6,858,000 after purchasing an additional 5,242 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in Belden by 39.4% in the 1st quarter. Wedge Capital Management L L P NC now owns 366,325 shares of the industrial products company’s stock worth $25,254,000 after purchasing an additional 103,461 shares during the period.

A number of research firms recently weighed in on BDC. Canaccord Genuity reissued a “buy” rating and issued a $88.00 price objective on shares of Belden in a research report on Thursday, May 3rd. Zacks Investment Research lowered shares of Belden from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. ValuEngine lowered shares of Belden from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $90.00 price objective on shares of Belden in a research report on Friday, March 30th. Finally, Cross Research raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $90.83.

Shares of Belden opened at $57.39 on Friday, Marketbeat Ratings reports. The company has a market cap of $2.33 billion, a PE ratio of 10.32 and a beta of 2.37. Belden has a one year low of $53.65 and a one year high of $87.14. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.45 and a current ratio of 2.01.

Belden (NYSE:BDC) last issued its earnings results on Wednesday, May 2nd. The industrial products company reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.06. The business had revenue of $605.57 million for the quarter, compared to analyst estimates of $584.55 million. Belden had a net margin of 2.87% and a return on equity of 19.45%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. sell-side analysts anticipate that Belden will post 6.35 earnings per share for the current year.

In related news, SVP Ross Rosenberg sold 779 shares of Belden stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $75.00, for a total transaction of $58,425.00. Following the transaction, the senior vice president now directly owns 5,329 shares of the company’s stock, valued at $399,675. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bryan C. Cressey acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average cost of $54.31 per share, for a total transaction of $108,620.00. Following the completion of the acquisition, the director now owns 123,875 shares of the company’s stock, valued at $6,727,651.25. The disclosure for this purchase can be found here. Company insiders own 1.34% of the company’s stock.

Belden Company Profile

Belden Inc designs, manufactures, and markets signal transmission solutions worldwide. It operates through Broadcast Solutions, Enterprise Solutions, Industrial Solutions, and Network Solutions segments. The Broadcast Solutions segment offers camera solutions, production switchers, server and storage systems for instant replay applications, interfaces and routers, monitoring systems, in-home network systems, playout systems, outside plant connectivity products, and other cable, and connectivity products.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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