Belden Inc. (BDC) Stake Raised by Vanguard Group Inc.
Vanguard Group Inc. increased its stake in shares of Belden Inc. (NYSE:BDC) by 4.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,145,907 shares of the company’s stock after buying an additional 121,773 shares during the period. Vanguard Group Inc. owned approximately 7.47% of Belden worth $189,918,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake 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 during the period. Dimensional Fund Advisors LP boosted its stake in Belden by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 827,643 shares of the company’s stock valued at $49,963,000 after buying an additional 118,211 shares during the period. Loomis Sayles & Co. L P boosted its stake 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 during the period. Bank of New York Mellon Corp boosted its stake 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 during the period. Finally, Boston Partners boosted its stake 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 during the period.
Belden Inc. (NYSE:BDC) opened at 67.31 on Tuesday. The firm has a 50-day moving average of $67.99 and a 200-day moving average of $66.17. The company has a market capitalization of $2.84 billion, a PE ratio of 23.42 and a beta of 2.27. Belden Inc. has a 52 week low of $36.51 and a 52 week high of $75.91.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Thursday, September 15th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Tuesday, September 13th. Belden’s dividend payout ratio is currently 6.94%.
Several analysts have recently commented on BDC shares. Canaccord Genuity reissued a “buy” rating and set a $70.00 price target on shares of Belden in a research note on Tuesday, June 28th. Zacks Investment Research cut shares of Belden from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Finally, SunTrust Banks Inc. cut shares of Belden from a “buy” rating to a “neutral” rating and decreased their price target for the company from $84.00 to $79.00 in a research note on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $77.00.
In other news, SVP Ross Rosenberg sold 2,274 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $74.00, for a total value of $168,276.00. Following the completion of the transaction, the senior vice president now directly owns 7,603 shares in the company, valued at approximately $562,622. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.37% of the stock is currently owned by company insiders.
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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