Belden Inc (BDC) Shares Sold by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL cut its stake in shares of Belden Inc (NYSE:BDC) by 13.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,000 shares of the industrial products company’s stock after selling 2,700 shares during the period. Virginia Retirement Systems ET AL’s holdings in Belden were worth $1,450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BDC. Capstone Asset Management Co. grew its position in Belden by 4.2% in the second quarter. Capstone Asset Management Co. now owns 3,469 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 140 shares in the last quarter. Aperio Group LLC grew its position in Belden by 141.7% in the second quarter. Aperio Group LLC now owns 26,185 shares of the industrial products company’s stock worth $1,975,000 after acquiring an additional 15,351 shares in the last quarter. Russell Investments Group Ltd. grew its position in Belden by 22.1% in the second quarter. Russell Investments Group Ltd. now owns 20,097 shares of the industrial products company’s stock worth $1,515,000 after acquiring an additional 3,643 shares in the last quarter. NGAM Advisors L.P. grew its position in Belden by 0.5% in the second quarter. NGAM Advisors L.P. now owns 39,495 shares of the industrial products company’s stock worth $2,979,000 after acquiring an additional 207 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Belden by 3.6% in the second quarter. Great West Life Assurance Co. Can now owns 25,691 shares of the industrial products company’s stock worth $1,936,000 after acquiring an additional 903 shares in the last quarter.

In related news, SVP Paul Keith Turner sold 3,709 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 4,967 shares in the company, valued at approximately $391,945.97. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman John S. Stroup sold 17,227 shares of the stock in a transaction 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. 1.31% of the stock is owned by corporate insiders.

Several analysts have commented on the stock. Guggenheim reissued a “buy” rating and issued a $90.00 target price on shares of Belden in a research report on Wednesday. Stifel Nicolaus boosted their target price on shares of Belden from $90.00 to $97.00 and gave the stock an “in-line” rating in a research report on Wednesday. Canaccord Genuity reissued a “buy” rating and issued a $94.00 target price on shares of Belden in a research report on Friday, December 1st. Cross Research downgraded shares of Belden from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research downgraded shares of Belden from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.50.

Shares of Belden Inc (NYSE:BDC) opened at $82.29 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.79 and a current ratio of 2.26. The stock has a market cap of $3,482.30, a price-to-earnings ratio of 16.13 and a beta of 2.26. Belden Inc has a 1-year low of $64.60 and a 1-year high of $86.85.

Belden (NYSE:BDC) last posted its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.08. The business had revenue of $621.74 million during the quarter, compared to the consensus estimate of $626.05 million. Belden had a net margin of 4.03% and a return on equity of 17.52%. Belden’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. analysts anticipate that Belden Inc will post 5.52 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 15th will be 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 is Thursday, December 14th. Belden’s payout ratio is currently 13.79%.

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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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