Texas Permanent School Fund Increases Position in Belden Inc. (BDC)

Texas Permanent School Fund boosted its position in shares of Belden Inc. (NYSE:BDC) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,751 shares of the industrial products company’s stock after buying an additional 376 shares during the period. Texas Permanent School Fund’s holdings in Belden were worth $1,437,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BDC. JPMorgan Chase & Co. grew its position in shares of Belden by 6.3% during the third quarter. JPMorgan Chase & Co. now owns 56,610 shares of the industrial products company’s stock worth $4,042,000 after purchasing an additional 3,377 shares in the last quarter. Strs Ohio grew its position in shares of Belden by 6.6% during the fourth quarter. Strs Ohio now owns 77,000 shares of the industrial products company’s stock worth $3,216,000 after purchasing an additional 4,800 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Belden during the fourth quarter worth about $200,000. Xact Kapitalforvaltning AB grew its position in shares of Belden by 66.4% during the fourth quarter. Xact Kapitalforvaltning AB now owns 10,530 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in Belden by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 335,663 shares of the industrial products company’s stock valued at $14,021,000 after buying an additional 13,289 shares during the last quarter.

Shares of BDC stock traded up $0.38 on Friday, hitting $53.90. The company had a trading volume of 656 shares, compared to its average volume of 467,315. The stock has a market cap of $2.24 billion, a PE ratio of 8.89 and a beta of 2.56. The company has a quick ratio of 1.40, a current ratio of 1.97 and a debt-to-equity ratio of 1.01. Belden Inc. has a twelve month low of $37.79 and a twelve month high of $76.39.

Belden (NYSE:BDC) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. Belden had a return on equity of 20.17% and a net margin of 7.15%. The firm had revenue of $587.18 million during the quarter, compared to analyst estimates of $577.17 million. During the same quarter in the previous year, the business earned $1.16 EPS. Belden’s revenue for the quarter was down 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Belden Inc. will post 5.86 earnings per share for the current fiscal year.

Several brokerages recently weighed in on BDC. TheStreet downgraded Belden from a “b-” rating to a “c+” rating in a research note on Friday, March 29th. ValuEngine cut Belden from a “hold” rating to a “sell” rating in a report on Saturday, May 18th. Longbow Research cut Belden from a “buy” rating to a “neutral” rating and set a $63.27 price objective for the company. in a report on Thursday, February 21st. Zacks Investment Research raised Belden from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Finally, SunTrust Banks boosted their price objective on Belden to $70.00 and gave the company a “hold” rating in a report on Thursday, February 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.18.

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Belden Profile

Belden Inc operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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