Dana Investment Advisors Inc. Decreases Position in Belden Inc. (NYSE:BDC)

Dana Investment Advisors Inc. reduced its position in shares of Belden Inc. (NYSE:BDC) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,562 shares of the industrial products company’s stock after selling 1,214 shares during the period. Dana Investment Advisors Inc. owned 0.22% of Belden worth $8,495,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Aristides Capital LLC acquired a new stake in shares of Belden in the second quarter worth approximately $228,000. Creative Planning boosted its stake in Belden by 17.5% during the 2nd quarter. Creative Planning now owns 14,236 shares of the industrial products company’s stock worth $1,335,000 after purchasing an additional 2,117 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Belden by 42.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 16,736 shares of the industrial products company’s stock worth $1,570,000 after buying an additional 5,006 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Belden by 13.2% in the second quarter. Mackenzie Financial Corp now owns 10,547 shares of the industrial products company’s stock valued at $989,000 after buying an additional 1,230 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its stake in shares of Belden by 94.2% in the second quarter. Dark Forest Capital Management LP now owns 9,261 shares of the industrial products company’s stock worth $869,000 after buying an additional 4,492 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Trading Up 1.1 %

BDC opened at $117.13 on Tuesday. The stock has a market capitalization of $4.76 billion, a PE ratio of 22.92 and a beta of 1.07. Belden Inc. has a one year low of $60.54 and a one year high of $118.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.25 and a current ratio of 1.70. The business’s 50 day moving average price is $102.40 and its 200 day moving average price is $95.32.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.37 by $0.14. The business had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The company’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.91 EPS. As a group, equities research analysts expect that Belden Inc. will post 6.04 EPS for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Thursday, September 12th. Belden’s payout ratio is 3.91%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BDC. Vertical Research started coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective for the company. Truist Financial increased their price target on Belden from $123.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Finally, Benchmark upped their target price on Belden from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.

Insiders Place Their Bets

In related news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the transaction, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Brian Edward Anderson sold 6,556 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the sale, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. The disclosure for this sale can be found here. Insiders have sold 11,137 shares of company stock worth $1,095,457 over the last ninety days. Corporate insiders own 1.59% of the company’s stock.

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.