State Board of Administration of Florida Retirement System decreased its stake in Belden Inc. (NYSE:BDC) by 29.0% during the fourth quarter, Holdings Channel reports. The fund owned 17,163 shares of the company’s stock after selling 7,004 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Belden were worth $1,283,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BDC. BlackRock Fund Advisors increased its stake in Belden by 5.8% in the third quarter. BlackRock Fund Advisors now owns 2,232,641 shares of the company’s stock valued at $154,030,000 after buying an additional 122,409 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Belden by 5.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,332,365 shares of the company’s stock valued at $91,920,000 after buying an additional 63,737 shares during the last quarter. Channing Capital Management LLC increased its stake in Belden by 8.2% in the third quarter. Channing Capital Management LLC now owns 930,830 shares of the company’s stock valued at $64,218,000 after buying an additional 70,195 shares during the last quarter. Northern Trust Corp increased its stake in Belden by 0.6% in the third quarter. Northern Trust Corp now owns 771,139 shares of the company’s stock valued at $53,201,000 after buying an additional 4,595 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Belden by 19.4% in the third quarter. Bank of New York Mellon Corp now owns 723,001 shares of the company’s stock valued at $49,881,000 after buying an additional 117,685 shares during the last quarter.

Institutional Ownership by Quarter for Belden (NYSE:BDC)

Belden Inc. (NYSE:BDC) opened at 69.92 on Tuesday. The firm has a market cap of $2.95 billion, a P/E ratio of 26.38 and a beta of 2.24. The stock has a 50 day moving average price of $73.24 and a 200-day moving average price of $71.90. Belden Inc. has a one year low of $54.97 and a one year high of $81.33.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.02. The business had revenue of $612.40 million for the quarter, compared to analysts’ expectations of $616.10 million. Belden had a return on equity of 20.29% and a net margin of 5.43%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. Analysts predict that Belden Inc. will post $5.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Thursday, March 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Tuesday, March 14th. Belden’s dividend payout ratio is 7.58%.

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Several analysts have issued reports on BDC shares. Stifel Nicolaus cut their price objective on Belden from $86.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, December 6th. Zacks Investment Research upgraded Belden from a “sell” rating to a “hold” rating in a report on Monday. Deutsche Bank AG initiated coverage on Belden in a report on Thursday, December 15th. They issued a “buy” rating and a $85.00 target price on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $83.00 target price on shares of Belden in a report on Tuesday, December 6th. Finally, Seaport Global Securities initiated coverage on Belden in a report on Thursday, March 2nd. They issued a “buy” rating and a $82.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $81.71.

In related news, Director Judy L. Brown sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $76.50, for a total value of $688,500.00. Following the transaction, the director now owns 13,268 shares in the company, valued at $1,015,002. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Glenn Pennycook sold 6,306 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $72.86, for a total value of $459,455.16. Following the completion of the transaction, the executive vice president now owns 18,343 shares in the company, valued at approximately $1,336,470.98. The disclosure for this sale can be found here. 1.37% of the stock is owned by company insiders.

Belden Company Profile

Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).

5 Day Chart for NYSE:BDC

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