Bank of New York Mellon Corp Has $75.48 Million Stock Holdings in Belden Inc. (NYSE:BDC)

Bank of New York Mellon Corp decreased its position in Belden Inc. (NYSE:BDC) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 804,699 shares of the industrial products company’s stock after selling 16,458 shares during the period. Bank of New York Mellon Corp’s holdings in Belden were worth $75,481,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. State of Michigan Retirement System lifted its stake in Belden by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock valued at $944,000 after acquiring an additional 200 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Belden by 41.7% during the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 244 shares during the period. ProShare Advisors LLC raised its stake in Belden by 3.1% in the 1st quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock valued at $882,000 after acquiring an additional 290 shares during the period. Covestor Ltd lifted its stake in shares of Belden by 33.9% during the 1st quarter. Covestor Ltd now owns 1,166 shares of the industrial products company’s stock worth $108,000 after buying an additional 295 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Belden during the 2nd quarter worth about $28,000. Institutional investors own 98.75% of the company’s stock.

Analyst Ratings Changes

BDC has been the topic of several research analyst reports. Vertical Research assumed coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price target on the stock. Benchmark increased their target price on shares of Belden from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Loop Capital increased their price target on Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Truist Financial upped their price objective on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $111.67.

Insider Activity at Belden

In other news, Director Jonathan C. Klein sold 1,607 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $97.29, for a total value of $156,345.03. Following the sale, the director now directly owns 12,097 shares of the company’s stock, valued at approximately $1,176,917.13. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Belden news, Director Jonathan C. Klein sold 1,607 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total value of $156,345.03. Following the transaction, the director now directly owns 12,097 shares of the company’s stock, valued at $1,176,917.13. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian Lieser sold 819 shares of Belden stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the completion of the sale, the executive vice president now directly owns 21,031 shares of the company’s stock, valued at $1,919,289.06. The disclosure for this sale can be found here. Insiders have sold 12,744 shares of company stock worth $1,251,802 over the last ninety days. Insiders own 1.59% of the company’s stock.

Belden Price Performance

Shares of BDC opened at $107.04 on Friday. The business has a 50-day simple moving average of $96.45 and a two-hundred day simple moving average of $91.86. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $108.64. The stock has a market cap of $4.35 billion, a PE ratio of 20.95 and a beta of 1.06. The company has a quick ratio of 1.83, a current ratio of 1.70 and a debt-to-equity ratio of 0.95.

Belden (NYSE:BDC) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. The firm had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 EPS. Analysts anticipate that Belden Inc. will post 5.85 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. Belden’s dividend payout ratio (DPR) is 3.91%.

Belden Profile

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.