Public Employees Retirement Association of Colorado Boosts Stake in Belden Inc. (NYSE:BDC)

Public Employees Retirement Association of Colorado lifted its holdings in Belden Inc. (NYSE:BDC) by 60.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,430 shares of the industrial products company’s stock after buying an additional 63,216 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Belden were worth $15,705,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in Belden by 198.4% during the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock worth $1,138,000 after acquiring an additional 8,169 shares during the period. Gendell Jeffrey L grew its stake in Belden by 59.0% in the 4th quarter. Gendell Jeffrey L now owns 53,882 shares of the industrial products company’s stock valued at $4,162,000 after purchasing an additional 20,000 shares during the period. First Eagle Investment Management LLC increased its position in shares of Belden by 8.0% during the 1st quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company’s stock valued at $9,195,000 after purchasing an additional 7,340 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Belden by 17.9% during the 4th 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, Invenomic Capital Management LP purchased a new position in shares of Belden in the 4th quarter worth about $4,445,000. 98.75% of the stock is owned by institutional investors.

Belden Price Performance

BDC opened at $112.43 on Friday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 21.66 and a beta of 1.07. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $99.62 and a 200-day moving average price of $93.87. Belden Inc. has a twelve month low of $60.54 and a twelve month high of $112.87.

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

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, September 12th. Belden’s payout ratio is presently 3.91%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BDC shares. Vertical Research initiated coverage on shares of Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective for the company. 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 research note on Friday, August 2nd. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Finally, Benchmark increased their price objective on Belden from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.50.

Insider Activity

In other news, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the completion of the transaction, the senior vice president now directly owns 39,385 shares in the company, valued at $3,812,074.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Belden news, EVP Brian Lieser sold 819 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the transaction, the executive vice president now directly owns 21,031 shares in the company, valued at approximately $1,919,289.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the completion of the sale, the senior vice president now directly owns 39,385 shares in the company, valued at approximately $3,812,074.15. The disclosure for this sale can be found here. Insiders have sold a total of 11,137 shares of company stock worth $1,095,457 over the last ninety days. Company insiders own 1.59% of the company’s stock.

Belden Company 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.