Belden Inc. (BDC) Stake Lessened by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its holdings in shares of Belden Inc. (NYSE:BDC) by 6.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 396,557 shares of the industrial products company’s stock after selling 28,162 shares during the period. William Blair Investment Management LLC owned about 0.98% of Belden worth $28,318,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Belden during the third quarter valued at approximately $2,159,000. GSA Capital Partners LLP acquired a new position in Belden during the third quarter valued at approximately $1,626,000. Baird Financial Group Inc. boosted its holdings in shares of Belden by 3.3% in the third quarter. Baird Financial Group Inc. now owns 79,450 shares of the industrial products company’s stock valued at $5,638,000 after buying an additional 2,538 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Belden by 6.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,517,560 shares of the industrial products company’s stock valued at $108,365,000 after buying an additional 88,044 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of Belden by 1.2% in the third quarter. American International Group Inc. now owns 108,690 shares of the industrial products company’s stock valued at $7,762,000 after buying an additional 1,301 shares during the period.

NYSE BDC opened at $55.55 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.38 and a current ratio of 1.90. Belden Inc. has a 1 year low of $50.71 and a 1 year high of $87.14. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 10.38 and a beta of 2.42.

Belden (NYSE:BDC) last issued its quarterly earnings data on Wednesday, October 31st. The industrial products company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.01. The company had revenue of $659.00 million for the quarter, compared to analyst estimates of $679.15 million. Belden had a net margin of 5.83% and a return on equity of 21.28%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 earnings per share. Equities research analysts anticipate that Belden Inc. will post 6.09 EPS for the current year.

Belden declared that its board has approved a stock buyback plan on Thursday, November 29th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 13.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 8th. Stockholders of record on Monday, December 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, December 14th. Belden’s payout ratio is presently 3.74%.

In other Belden news, SVP Roel Vestjens purchased 447 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were acquired at an average cost of $55.94 per share, for a total transaction of $25,005.18. Following the completion of the purchase, the senior vice president now owns 22,778 shares of the company’s stock, valued at approximately $1,274,201.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman John S. Stroup purchased 9,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was acquired at an average price of $53.44 per share, for a total transaction of $494,320.00. Following the completion of the purchase, the chairman now directly owns 21,713 shares of the company’s stock, valued at approximately $1,160,342.72. The disclosure for this purchase can be found here. Insiders purchased 11,128 shares of company stock worth $596,098 over the last 90 days. 1.34% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on BDC. Goldman Sachs Group cut shares of Belden from a “buy” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Sunday. TheStreet lowered shares of Belden from a “b-” rating to a “c+” rating in a research report on Thursday, November 8th. Zacks Investment Research lowered shares of Belden from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Longbow Research lowered shares of Belden from a “buy” rating to a “neutral” rating in a research report on Thursday, November 1st. Finally, Cross Research lowered shares of Belden from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $70.33.

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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.

Read More: Understanding Market Liquidity

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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