Channing Capital Management Lowers stake in Belden (BDC)

Belden (BDC) : Channing Capital Management reduced its stake in Belden by 1.38% during the most recent quarter end. The investment management company now holds a total of 860,635 shares of Belden which is valued at $60,795,256 after selling 12,040 shares in Belden , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Belden makes up approximately 2.44% of Channing Capital Management’s portfolio.

Other Hedge Funds, Including , Public Employees Retirement Association Of Colorado reduced its stake in BDC by selling 511 shares or 5.37% in the most recent quarter. The Hedge Fund company now holds 9,011 shares of BDC which is valued at $659,695. Belden makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio. Smith Asset Management Group Lp added BDC to its portfolio by purchasing 10,470 company shares during the most recent quarter which is valued at $780,329. Belden makes up approx 0.02% of Smith Asset Management Group Lp’s portfolio.Strs Ohio boosted its stake in BDC in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 5,700 shares of Belden which is valued at $424,821.American Century Companies Inc boosted its stake in BDC in the latest quarter, The investment management firm added 2,139 additional shares and now holds a total of 265,435 shares of Belden which is valued at $19,782,871. Belden makes up approx 0.02% of American Century Companies Inc’s portfolio.

Belden opened for trading at $70.81 and hit $71.74 on the upside on Thursday, eventually ending the session at $71.13, with a gain of 0.69% or 0.49 points. The heightened volatility saw the trading volume jump to 2,81,438 shares. Company has a market cap of $2,993 M.

On the company’s financial health, Belden reported $1.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.28 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.26. The company had revenue of $601.60 million for the quarter, compared to analysts expectations of $580.90 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS.

Belden Inc. is a signal transmission solutions provider. The Company’s portfolio of signal transmission solutions provides industry secure and reliable transmission of data sound and video for mission critical applications. The Company operates in four segments: Broadcast Solutions which provides production distribution and connectivity systems for television broadcast cable satellite and IPTV industries; Enterprise Connectivity Solutions which provides network infrastructure solutions for enterprise customers; Industrial Connectivity Solutions which provides infrastructure components and connectivity systems for a range of industrial automation applications and Industrial IT Solutions which provides mission-critical networking systems. Its brands include Belden Alpha Wire Mohawk West Penn Wire Hirschmann SignalTight GarrettCom Poliron Tofino PPC Grass Valley ProSoft Technology and Tripwire. It sells products to distributors end-users installers and OEMs.

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