LSV Asset Management Cuts Stake in Belden Inc. (NYSE:BDC)

LSV Asset Management cut its holdings in shares of Belden Inc. (NYSE:BDC) by 1.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 74,900 shares of the industrial products company’s stock after selling 1,300 shares during the quarter. LSV Asset Management’s holdings in Belden were worth $7,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in Belden in the 4th quarter worth $35,403,000. Pzena Investment Management LLC lifted its stake in shares of Belden by 32.5% in the 4th quarter. Pzena Investment Management LLC now owns 914,924 shares of the industrial products company’s stock valued at $70,678,000 after acquiring an additional 224,486 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Belden by 17.9% during the 4th quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after acquiring an additional 149,263 shares during the period. F M Investments LLC bought a new position in Belden during the 2nd quarter worth approximately $12,659,000. Finally, Public Employees Retirement Association of Colorado grew its position in Belden by 1,724.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after acquiring an additional 98,503 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Belden Trading Down 0.1 %

NYSE:BDC opened at $99.06 on Thursday. The company has a 50-day moving average price of $98.06 and a 200-day moving average price of $93.09. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 19.39 and a beta of 1.07. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $108.64.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.37 by $0.14. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business had revenue of $604.34 million during the quarter, compared to analyst estimates of $574.32 million. During the same period last year, the business posted $1.91 earnings per share. Belden’s quarterly revenue was down 12.7% compared to the same quarter last year. Equities analysts predict that Belden Inc. will post 6.04 EPS for the current year.

Belden Dividend Announcement

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

Wall Street Analyst Weigh In

BDC has been the subject of a number of analyst reports. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Truist Financial raised their price target on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Vertical Research assumed coverage on shares of Belden in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective 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. Finally, Benchmark boosted their price target on Belden from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Belden presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.67.

Insider Buying and Selling at Belden

In other news, Director Nancy E. Calderon sold 2,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the sale, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total transaction of $74,741.94. Following the completion of the transaction, the executive vice president now owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the sale, the director now directly owns 6,954 shares in the company, valued at $667,444.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,137 shares of company stock valued at $1,095,457. 1.59% of the stock is currently owned by company insiders.

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.