Eaton Vance Management lowered its stake in shares of Belden Inc (NYSE:BDC) by 7.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,860 shares of the industrial products company’s stock after selling 2,570 shares during the quarter. Eaton Vance Management owned about 0.07% of Belden worth $2,328,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Greenwood Capital Associates LLC increased its stake in shares of Belden by 0.5% during the 2nd quarter. Greenwood Capital Associates LLC now owns 2,989 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 14 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Belden by 0.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,372 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 15 shares during the last quarter. RMB Capital Management LLC increased its stake in shares of Belden by 0.3% during the 1st quarter. RMB Capital Management LLC now owns 17,234 shares of the industrial products company’s stock valued at $1,192,000 after acquiring an additional 60 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of Belden by 0.6% during the 1st quarter. State Treasurer State of Michigan now owns 17,100 shares of the industrial products company’s stock valued at $1,183,000 after acquiring an additional 100 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Belden by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 24,210 shares of the industrial products company’s stock valued at $1,803,000 after acquiring an additional 100 shares during the last quarter.

A number of research analysts have recently commented on BDC shares. Guggenheim started coverage on shares of Belden in a research note on Tuesday, July 11th. They set a “buy” rating and a $90.00 price objective for the company. Goldman Sachs Group, Inc. (The) started coverage on shares of Belden in a research note on Friday, June 23rd. They set a “buy” rating and a $93.00 price objective for the company. Canaccord Genuity reaffirmed a “buy” rating and set a $83.00 price objective on shares of Belden in a research note on Friday, August 4th. Deutsche Bank AG upped their price objective on shares of Belden from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, ValuEngine raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $85.88.

Shares of Belden Inc (NYSE BDC) opened at 79.37 on Tuesday. Belden Inc has a one year low of $60.06 and a one year high of $81.33. The stock has a market cap of $3.36 billion, a PE ratio of 34.51 and a beta of 2.27. The stock’s 50 day moving average price is $74.64 and its 200-day moving average price is $72.46.

Belden (NYSE:BDC) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.08. Belden had a return on equity of 16.31% and a net margin of 5.53%. The firm had revenue of $610.63 million during the quarter, compared to the consensus estimate of $608.16 million. During the same period in the prior year, the business earned $1.54 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts predict that Belden Inc will post $5.44 earnings per share for the current fiscal year.

Belden announced that its board has authorized a share buyback program on Thursday, May 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Thursday, September 14th. Belden’s dividend payout ratio (DPR) is presently 8.66%.

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Belden 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).

Institutional Ownership by Quarter for Belden (NYSE:BDC)

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