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

Victory Capital Management Inc. increased its position in Belden Inc (NYSE:BDC - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 439,452 shares of the industrial products company's stock after purchasing an additional 52,400 shares during the quarter. Victory Capital Management Inc. owned approximately 1.11% of Belden worth $44,055,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Belden Trading Down 2.2%

Shares of Belden stock opened at $127.93 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.29 and a current ratio of 1.93. Belden Inc has a 52 week low of $83.18 and a 52 week high of $131.82. The stock has a 50 day moving average price of $113.98 and a two-hundred day moving average price of $109.25. The stock has a market capitalization of $5.05 billion, a PE ratio of 24.70 and a beta of 1.24.

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

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, June 12th. Belden's payout ratio is currently 3.86%.

Insider Transactions at Belden

In related news, SVP Leah Tate sold 231 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian Edward Anderson sold 7,158 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $130.51, for a total value of $934,190.58. Following the transaction, the senior vice president directly owned 39,574 shares of the company's stock, valued at approximately $5,164,802.74. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. 1.48% of the stock is currently 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.

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