Victory Capital Management Inc. Sells 61,178 Shares of Belden Inc. (NYSE:BDC)

Victory Capital Management Inc. lowered its holdings in shares of Belden Inc. (NYSE:BDC) by 8.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 648,951 shares of the industrial products company’s stock after selling 61,178 shares during the period. Victory Capital Management Inc.’s holdings in Belden were worth $50,131,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of BDC. Vanguard Personalized Indexing Management LLC raised its stake in Belden by 3.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,301 shares of the industrial products company’s stock worth $415,000 after acquiring an additional 158 shares in the last quarter. Arizona State Retirement System increased its position in Belden by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 12,115 shares of the industrial products company’s stock worth $1,170,000 after purchasing an additional 169 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Belden by 15.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 209 shares during the last quarter. Blue Trust Inc. boosted its position in Belden by 31.9% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after buying an additional 261 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its stake in shares of Belden by 0.6% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 50,654 shares of the industrial products company’s stock worth $4,891,000 after buying an additional 301 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Belden Trading Down 0.8 %

NYSE:BDC opened at $88.23 on Friday. The firm has a fifty day simple moving average of $87.12 and a two-hundred day simple moving average of $78.22. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $99.13. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 17.27 and a beta of 1.07. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 1.02.

Belden (NYSE:BDC) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The company had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. During the same period last year, the business posted $1.68 EPS. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. Analysts expect that Belden Inc. will post 5.33 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 13th. Belden’s payout ratio is 3.91%.

Analyst Ratings Changes

Several research firms have recently issued reports on BDC. Truist Financial upped their price objective on Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.00.

Insider Buying and Selling

In other Belden news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now owns 21,772 shares in the company, valued at approximately $1,791,835.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.59% of the stock is owned by company 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.