Victory Capital Management Inc. Sells 55,545 Shares of Belden Inc. (NYSE:BDC)

Victory Capital Management Inc. lessened its stake in Belden Inc. (NYSE:BDC) by 9.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 525,838 shares of the industrial products company’s stock after selling 55,545 shares during the period. Victory Capital Management Inc. owned 1.30% of Belden worth $61,591,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. F M Investments LLC bought a new stake in shares of Belden during the second quarter worth $12,659,000. Public Employees Retirement Association of Colorado raised its holdings in Belden by 1,724.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after purchasing an additional 98,503 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Belden during the 3rd quarter worth about $82,320,000. Renaissance Technologies LLC boosted its stake in shares of Belden by 15.8% in the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock valued at $29,365,000 after purchasing an additional 42,600 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Belden by 126.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,505 shares of the industrial products company’s stock worth $3,924,000 after buying an additional 18,678 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BDC. Vertical Research began coverage on shares of Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. Truist Financial lifted their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark increased their target price on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Belden currently has a consensus rating of “Buy” and an average price target of $122.75.

Belden Trading Down 1.3 %

Shares of NYSE BDC opened at $119.74 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. Belden Inc. has a twelve month low of $65.52 and a twelve month high of $131.82. The company’s fifty day moving average is $115.50 and its 200-day moving average is $102.49. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 27.85 and a beta of 1.07.

Belden (NYSE:BDC) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. The firm had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. Equities research analysts predict that Belden Inc. will post 6.12 EPS for the current year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Insider Transactions at Belden

In other news, CAO Doug Zink sold 1,324 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,643 shares of the company’s stock, valued at $1,132,956.07. This represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.59% of the stock is owned by insiders.

Belden Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.