Victory Capital Management Inc. Has $61.59 Million Stock Position in Belden Inc. (NYSE:BDC)

Victory Capital Management Inc. cut its holdings in Belden Inc. (NYSE:BDC - Free Report) by 9.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 525,838 shares of the industrial products company's stock after selling 55,545 shares during the quarter. Victory Capital Management Inc. owned about 1.30% of Belden worth $61,591,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. F M Investments LLC bought a new position in shares of Belden in the 2nd quarter worth $12,659,000. Public Employees Retirement Association of Colorado increased its position in Belden by 1,724.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company's stock worth $9,651,000 after buying an additional 98,503 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Belden during the third quarter worth approximately $82,320,000. Renaissance Technologies LLC boosted its holdings in shares of Belden by 15.8% during the second quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company's stock worth $29,365,000 after acquiring an additional 42,600 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Belden by 126.0% in the third quarter. Harbor Capital Advisors Inc. now owns 33,505 shares of the industrial products company's stock valued at $3,924,000 after buying an additional 18,678 shares during the period. Institutional investors own 98.75% of the company's stock.

Insider Activity

In other Belden news, CAO Doug Zink sold 1,324 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total value of $155,556.76. Following the sale, the chief accounting officer now directly owns 9,643 shares in the company, valued at $1,132,956.07. This represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.59% of the company's stock.

Belden Price Performance

Shares of NYSE BDC traded down $1.86 during mid-day trading on Friday, reaching $117.95. The company's stock had a trading volume of 88,222 shares, compared to its average volume of 271,033. The stock has a 50-day moving average of $115.50 and a two-hundred day moving average of $102.49. The stock has a market capitalization of $4.76 billion, a P/E ratio of 27.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. Belden Inc. has a 1-year low of $65.52 and a 1-year high of $131.82.

Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The firm's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden's dividend payout ratio is presently 4.65%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Benchmark increased their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Truist Financial raised their price target on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Vertical Research initiated coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $122.75.

Belden Company Profile

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.