Atlas Capital Advisors LLC Has $140,000 Position in Belden Inc. (NYSE:BDC)

Atlas Capital Advisors LLC reduced its holdings in Belden Inc. (NYSE:BDC) by 68.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,512 shares of the industrial products company’s stock after selling 3,242 shares during the period. Atlas Capital Advisors LLC’s holdings in Belden were worth $140,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Norges Bank acquired a new stake in Belden in the fourth quarter worth $35,403,000. Pzena Investment Management LLC raised its holdings in Belden by 32.5% in the fourth quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock worth $70,678,000 after purchasing an additional 224,486 shares during the period. Channing Capital Management LLC raised its holdings in Belden by 29.4% in the fourth quarter. Channing Capital Management LLC now owns 919,066 shares of the industrial products company’s stock worth $70,998,000 after purchasing an additional 209,052 shares during the period. Wellington Management Group LLP raised its holdings in Belden by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after purchasing an additional 149,263 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Belden by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock worth $455,156,000 after purchasing an additional 92,544 shares during the period. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Belden

In other Belden news, Director David J. Aldrich sold 6,700 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $97.19, for a total value of $651,173.00. Following the completion of the sale, the director now owns 53,396 shares in the company, valued at $5,189,557.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director David J. Aldrich sold 6,700 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the completion of the sale, the director now owns 53,396 shares in the company, valued at approximately $5,189,557.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan C. Klein sold 1,607 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total transaction of $156,345.03. Following the sale, the director now owns 12,097 shares of the company’s stock, valued at approximately $1,176,917.13. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock worth $911,900 over the last quarter. 1.59% of the stock is currently owned by insiders.

Belden Stock Down 0.1 %

Belden stock opened at $93.11 on Thursday. The company has a market cap of $3.79 billion, a P/E ratio of 18.22 and a beta of 1.09. Belden Inc. has a 1-year low of $60.54 and a 1-year high of $99.13. The company has a fifty day simple moving average of $91.94 and a 200 day simple moving average of $85.13. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02.

Belden (NYSE:BDC) last released its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. The business had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 earnings per share. Research analysts anticipate that Belden Inc. will post 5.77 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Thursday, June 13th. Belden’s dividend payout ratio is currently 3.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Loop Capital increased their target price on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 17th. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Benchmark reissued a “buy” rating and set a $100.00 price objective on shares of Belden in a research report on Monday, May 6th. Finally, Truist Financial reissued a “buy” rating and set a $119.00 price objective (up previously from $101.00) on shares of Belden in a research report on Friday, June 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Belden has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

About Belden

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.