Teacher Retirement System of Texas lowered its position in Belden Inc. (NYSE:BDC) by 35.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,349 shares of the industrial products company’s stock after selling 5,121 shares during the period. Teacher Retirement System of Texas’ holdings in Belden were worth $645,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in BDC. Schwab Charles Investment Management Inc. raised its position in shares of Belden by 4.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 286,379 shares of the industrial products company’s stock worth $22,100,000 after acquiring an additional 12,580 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Belden by 41.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,462 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 718 shares in the last quarter. Comerica Bank increased its position in Belden by 9.9% during the 4th quarter. Comerica Bank now owns 93,277 shares of the industrial products company’s stock valued at $7,899,000 after buying an additional 8,406 shares in the last quarter. American Century Companies Inc. increased its position in Belden by 36.5% during the 4th quarter. American Century Companies Inc. now owns 264,755 shares of the industrial products company’s stock valued at $20,431,000 after buying an additional 70,811 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Belden by 10.9% during the 4th quarter. California Public Employees Retirement System now owns 93,859 shares of the industrial products company’s stock valued at $7,243,000 after buying an additional 9,217 shares in the last quarter.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Belden from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Thursday, May 31st. ValuEngine lowered Belden from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $88.00 price objective on shares of Belden in a research report on Thursday, May 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $90.00 price objective on shares of Belden in a research report on Friday, March 30th. Finally, SunTrust Banks upgraded Belden from a “hold” rating to a “buy” rating in a research note on Monday, March 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $84.60.
In other news, Director Bryan C. Cressey purchased 2,000 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were purchased at an average cost of $54.31 per share, for a total transaction of $108,620.00. Following the purchase, the director now directly owns 123,875 shares in the company, valued at approximately $6,727,651.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.34% of the company’s stock.
Shares of BDC opened at $61.94 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.45 and a debt-to-equity ratio of 1.29. Belden Inc. has a 12 month low of $53.65 and a 12 month high of $87.14. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 11.58 and a beta of 2.32.
Belden (NYSE:BDC) last released its quarterly earnings results on Wednesday, May 2nd. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.06. The firm had revenue of $605.57 million for the quarter, compared to the consensus estimate of $584.55 million. Belden had a return on equity of 19.45% and a net margin of 2.87%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. equities research analysts expect that Belden Inc. will post 6.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Wednesday, June 20th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, June 19th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.32%. Belden’s dividend payout ratio (DPR) is currently 3.74%.
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.
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