Victory Capital Management Inc. Acquires 52,400 Shares of Belden Inc (NYSE:BDC)

Victory Capital Management Inc. raised its holdings in Belden Inc (NYSE:BDC - Free Report) by 13.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 439,452 shares of the industrial products company's stock after acquiring an additional 52,400 shares during the quarter. Victory Capital Management Inc. owned 1.11% of Belden worth $44,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of BDC. FMR LLC increased its stake in Belden by 5.0% in the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock worth $530,418,000 after purchasing an additional 223,887 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Belden by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,043,510 shares of the industrial products company's stock valued at $105,478,000 after acquiring an additional 7,683 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Belden by 0.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company's stock valued at $80,154,000 after acquiring an additional 3,692 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Belden by 2.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company's stock valued at $78,309,000 after acquiring an additional 18,825 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Belden by 10.2% in the 4th quarter. Northern Trust Corp now owns 633,204 shares of the industrial products company's stock valued at $71,305,000 after acquiring an additional 58,508 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BDC has been the topic of a number of research analyst reports. Benchmark lifted their price target on Belden from $120.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. The Goldman Sachs Group reiterated a "buy" rating on shares of Belden in a report on Friday, July 11th. Finally, Wall Street Zen downgraded Belden from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $128.20.

Belden Stock Up 2.0%

NYSE:BDC traded up $2.56 during trading hours on Wednesday, reaching $129.93. The company's stock had a trading volume of 245,320 shares, compared to its average volume of 274,704. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 25.08 and a beta of 1.24. Belden Inc has a one year low of $83.18 and a one year high of $131.82. The business's 50-day moving average is $114.55 and its 200-day moving average is $109.44. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.29.

Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.12. The firm had revenue of $624.86 million during the quarter, compared to analysts' expectations of $615.81 million. Belden had a net margin of 8.35% and a return on equity of 22.28%. Belden's revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. Equities research analysts predict that Belden Inc will post 7.07 EPS for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Thursday, June 12th. Belden's dividend payout ratio (DPR) is presently 3.86%.

Insiders Place Their Bets

In related news, SVP Brian Edward Anderson sold 7,158 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $130.51, for a total transaction of $934,190.58. Following the completion of the sale, the senior vice president owned 39,574 shares in the company, valued at $5,164,802.74. This trade represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Leah Tate sold 231 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the sale, the senior vice president owned 30,170 shares of the company's stock, valued at $3,428,518.80. This trade represents a 0.76% decrease in their position. The disclosure for this sale can be found here. 1.48% of the stock is owned by corporate insiders.

About Belden

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.