Northwestern Mutual Investment Management Company LLC decreased its position in shares of Belden Inc. (NYSE:BDC) by 8.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,009 shares of the industrial products company’s stock after selling 610 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Belden were worth $376,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in shares of Belden by 0.3% during the first quarter. New York State Common Retirement Fund now owns 74,189 shares of the industrial products company’s stock worth $3,984,000 after buying an additional 233 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Belden by 12.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,185 shares of the industrial products company’s stock worth $91,000 after buying an additional 244 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Belden by 2.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,869 shares of the industrial products company’s stock worth $579,000 after buying an additional 278 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of Belden by 1.4% during the first quarter. Texas Permanent School Fund now owns 26,751 shares of the industrial products company’s stock worth $1,437,000 after buying an additional 376 shares in the last quarter. Finally, Neuburgh Advisers LLC increased its holdings in shares of Belden by 12.1% during the fourth quarter. Neuburgh Advisers LLC now owns 3,840 shares of the industrial products company’s stock worth $160,000 after buying an additional 416 shares in the last quarter.

Several analysts have recently weighed in on BDC shares. ValuEngine raised shares of Belden from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 12th. Zacks Investment Research raised shares of Belden from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Seaport Global Securities reissued a “buy” rating on shares of Belden in a report on Friday, February 15th. Longbow Research lowered shares of Belden from a “buy” rating to a “neutral” rating and set a $63.27 price target for the company. in a report on Thursday, February 21st. Finally, Canaccord Genuity raised their price target on shares of Belden from $60.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $69.18.

BDC traded down $0.37 during trading on Wednesday, reaching $57.89. 1,060 shares of the company’s stock were exchanged, compared to its average volume of 452,921. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.40 and a current ratio of 1.97. Belden Inc. has a fifty-two week low of $37.79 and a fifty-two week high of $76.39. The firm has a market capitalization of $2.21 billion, a PE ratio of 9.52 and a beta of 2.45.

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, topping analysts’ consensus estimates of $0.89 by $0.10. The company had revenue of $587.18 million for the quarter, compared to analysts’ expectations of $577.17 million. Belden had a net margin of 7.15% and a return on equity of 20.17%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. Equities analysts forecast that Belden Inc. will post 5.86 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Wednesday, June 19th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.35%. Belden’s dividend payout ratio is 3.30%.

TRADEMARK VIOLATION NOTICE: “Belden Inc. (NYSE:BDC) Stake Decreased by Northwestern Mutual Investment Management Company LLC” was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece on another publication, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be viewed at https://theolympiareport.com/2019/06/12/belden-inc-nysebdc-stake-decreased-by-northwestern-mutual-investment-management-company-llc.html.

About Belden

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.

Featured Story: Diluted Earnings Per Share

Want to see what other hedge funds are holding BDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Belden Inc. (NYSE:BDC).

Institutional Ownership by Quarter for Belden (NYSE:BDC)

Receive News & Ratings for Belden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belden and related companies with MarketBeat.com's FREE daily email newsletter.