Belden Inc (NYSE:BDC) Position Raised by Foundry Partners LLC

Foundry Partners LLC boosted its position in shares of Belden Inc (NYSE:BDC) by 8.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 147,939 shares of the industrial products company’s stock after buying an additional 11,408 shares during the period. Foundry Partners LLC’s holdings in Belden were worth $11,159,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BDC. BlackRock Inc. increased its stake in shares of Belden by 22,743.7% in the first quarter. BlackRock Inc. now owns 4,264,460 shares of the industrial products company’s stock worth $295,057,000 after buying an additional 4,245,792 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Belden by 27.8% in the first quarter. Bank of New York Mellon Corp now owns 939,631 shares of the industrial products company’s stock valued at $65,013,000 after buying an additional 204,609 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Belden by 5.6% in the first quarter. Vanguard Group Inc. now owns 3,554,054 shares of the industrial products company’s stock valued at $245,905,000 after buying an additional 189,152 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Belden by 456.0% in the first quarter. Renaissance Technologies LLC now owns 219,075 shares of the industrial products company’s stock valued at $15,158,000 after buying an additional 179,675 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Belden by 17.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,131,832 shares of the industrial products company’s stock valued at $78,312,000 after buying an additional 170,458 shares during the last quarter.

Belden Inc (NYSE BDC) opened at 71.45 on Friday. Belden Inc has a one year low of $60.06 and a one year high of $81.33. The stock has a 50 day moving average of $74.56 and a 200 day moving average of $72.43. The firm has a market cap of $3.02 billion, a PE ratio of 31.07 and a beta of 2.28.

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

Belden announced that its board has initiated a stock buyback program on Thursday, May 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

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Several brokerages have recently issued reports on BDC. BidaskClub cut shares of Belden from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) began coverage on shares of Belden in a report on Friday, June 23rd. They issued a “buy” rating and a $93.00 target price for the company. Guggenheim began coverage on shares of Belden in a report on Tuesday, July 11th. They issued a “buy” rating and a $90.00 target price for the company. Canaccord Genuity restated a “buy” rating and issued a $83.00 target price on shares of Belden in a report on Friday, August 4th. Finally, CL King began coverage on shares of Belden in a report on Wednesday, June 21st. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $84.56.

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).

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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