Teacher Retirement System of Texas boosted its stake in shares of Belden Inc. (NYSE:BDC) by 13.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,863 shares of the company’s stock after buying an additional 711 shares during the period. Teacher Retirement System of Texas’ holdings in Belden were worth $354,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its position in Belden by 0.8% in the first quarter. State Street Corp now owns 1,310,743 shares of the company’s stock valued at $80,458,000 after buying an additional 10,970 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Belden by 1.4% in the first quarter. Loomis Sayles & Co. L P now owns 690,435 shares of the company’s stock valued at $42,379,000 after buying an additional 9,202 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Belden by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 605,316 shares of the company’s stock valued at $36,542,000 after buying an additional 44,397 shares in the last quarter. Boston Partners boosted its position in Belden by 1.3% in the second quarter. Boston Partners now owns 565,047 shares of the company’s stock valued at $34,112,000 after buying an additional 7,197 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in Belden by 6.7% in the first quarter. Kennedy Capital Management Inc. now owns 376,545 shares of the company’s stock valued at $23,112,000 after buying an additional 23,653 shares in the last quarter.
Belden Inc. (NYSE:BDC) traded up 0.11% during mid-day trading on Wednesday, hitting $66.64. The stock had a trading volume of 13,437 shares. Belden Inc. has a 52-week low of $36.51 and a 52-week high of $75.91. The firm has a 50-day moving average of $68.75 and a 200-day moving average of $65.99. The stock has a market cap of $2.81 billion, a P/E ratio of 23.19 and a beta of 2.27.
Belden (NYSE:BDC) last released its quarterly earnings data on Tuesday, July 19th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.28. Belden had a net margin of 5.29% and a return on equity of 27.25%. The company earned $601.60 million during the quarter, compared to the consensus estimate of $582.25 million. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, analysts forecast that Belden Inc. will post $5.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Thursday, September 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. Belden’s payout ratio is 6.94%.
Several analysts have issued reports on BDC shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Belden in a research note on Tuesday, June 28th. Zacks Investment Research lowered Belden from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Finally, SunTrust Banks Inc. lowered Belden from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $84.00 to $79.00 in a research note on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Belden has an average rating of “Hold” and a consensus target price of $77.00.
In related news, SVP Ross Rosenberg sold 2,274 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $74.00, for a total transaction of $168,276.00. Following the completion of the transaction, the senior vice president now directly owns 7,603 shares of the company’s stock, valued at $562,622. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.37% of the company’s stock.
Belden Company Profile
Belden Inc (Belden) is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides transmission of data, sound and video for mission critical applications. The Company’s segments include Broadcast Solutions, Enterprise Connectivity Solutions, Industrial Connectivity Solutions, Industrial IT Solutions and Network Security Solutions.
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