Municipal Employees Retirement System of Michigan Has $1.23 Million Position in Belden Inc (NYSE:BDC)

Municipal Employees Retirement System of Michigan decreased its position in Belden Inc (NYSE:BDC) by 15.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,320 shares of the industrial products company’s stock after selling 3,090 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Belden were worth $1,231,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Adams Diversified Equity Fund Inc. raised its position in shares of Belden by 23.3% in the first quarter. Adams Diversified Equity Fund Inc. now owns 16,400 shares of the industrial products company’s stock worth $1,135,000 after buying an additional 3,100 shares during the period. Wells Fargo & Company MN raised its position in Belden by 22.9% in the first quarter. Wells Fargo & Company MN now owns 84,682 shares of the industrial products company’s stock worth $5,859,000 after buying an additional 15,757 shares during the period. Oregon Public Employees Retirement Fund raised its position in Belden by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,673 shares of the industrial products company’s stock worth $1,015,000 after buying an additional 200 shares during the period. DUPONT CAPITAL MANAGEMENT Corp raised its position in Belden by 595.3% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 32,583 shares of the industrial products company’s stock worth $2,254,000 after buying an additional 27,897 shares during the period. Finally, First Midwest Bank Trust Division raised its position in Belden by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 12,612 shares of the industrial products company’s stock worth $873,000 after buying an additional 403 shares during the period.

Shares of Belden Inc (NYSE:BDC) traded down 0.53% during midday trading on Friday, hitting $70.95. The company’s stock had a trading volume of 156,217 shares. The firm has a market cap of $3.00 billion, a P/E ratio of 30.85 and a beta of 2.28. Belden Inc has a 52-week low of $60.06 and a 52-week high of $81.33. The stock’s 50 day moving average is $74.01 and its 200-day moving average is $72.21.

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

Belden declared that its board has approved a share buyback plan on Thursday, May 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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BDC has been the topic of a number of recent research reports. CL King initiated coverage on Belden in a research note on Wednesday, June 21st. They set a “neutral” rating on the stock. Goldman Sachs Group, Inc. (The) initiated coverage on Belden in a research note on Friday, June 23rd. They set a “buy” rating and a $93.00 price objective on the stock. Guggenheim initiated coverage on Belden in a research note on Tuesday, July 11th. They set a “buy” rating and a $90.00 price objective on the stock. Zacks Investment Research upgraded Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 price objective on the stock in a research note on Tuesday, July 11th. Finally, ValuEngine lowered Belden from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average 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).

Institutional Ownership by Quarter for Belden (NYSE:BDC)

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