Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Belden Inc. (NYSE:BDC) by 15.1% during the first quarter, HoldingsChannel.com reports. The fund owned 2,325 shares of the industrial products company’s stock after selling 412 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Belden were worth $125,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of Belden in the 4th quarter worth about $55,000. Public Employees Retirement System of Ohio increased its holdings in shares of Belden by 12.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,185 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 244 shares during the period. Howe & Rusling Inc. increased its holdings in shares of Belden by 28.9% in the 4th quarter. Howe & Rusling Inc. now owns 2,879 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 646 shares during the period. Pennsylvania Trust Co acquired a new stake in shares of Belden in the 1st quarter worth about $5,081,000. Finally, Virtu Financial LLC acquired a new stake in shares of Belden in the 1st quarter worth about $204,000.

A number of research firms recently weighed in on BDC. ValuEngine cut shares of Belden from a “hold” rating to a “sell” rating in a report on Saturday, May 18th. Zacks Investment Research cut shares of Belden from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, Canaccord Genuity increased their target price on shares of Belden from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Belden has an average rating of “Hold” and an average target price of $69.18.

BDC traded down $1.30 on Thursday, reaching $54.20. The company had a trading volume of 1,596 shares, compared to its average volume of 490,722. The firm has a market capitalization of $2.24 billion, a PE ratio of 8.91 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 one year low of $37.79 and a one year high of $76.39.

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

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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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