Belden Inc. (NYSE:BDC) Stake Decreased by Inspire Investing LLC

Inspire Investing LLC cut its holdings in shares of Belden Inc. (NYSE:BDC) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,518 shares of the industrial products company’s stock after selling 233 shares during the period. Inspire Investing LLC’s holdings in Belden were worth $412,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BDC. Matrix Trust Co acquired a new position in Belden during the 3rd quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in Belden in the second quarter worth about $28,000. Whittier Trust Co. grew its position in Belden by 662.2% in the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares in the last quarter. Rise Advisors LLC acquired a new position in Belden during the 1st quarter valued at about $32,000. Finally, GAMMA Investing LLC raised its position in shares of Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after buying an additional 117 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

Belden Price Performance

NYSE BDC opened at $122.29 on Friday. The stock has a market capitalization of $4.97 billion, a P/E ratio of 23.93 and a beta of 1.07. 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 fifty day moving average is $108.65 and its two-hundred day moving average is $97.74. Belden Inc. has a 1 year low of $60.54 and a 1 year high of $123.03.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. The business had revenue of $604.34 million during 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%. Belden’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the company posted $1.91 EPS. On average, research analysts forecast that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Insider Buying and Selling

In other news, SVP Brian Edward Anderson sold 1,262 shares of the stock in a transaction on Tuesday, August 13th. The stock was 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 owns 39,385 shares in the company, valued at $3,812,074.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Brian Edward Anderson sold 1,262 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total value of $122,148.98. Following the transaction, the senior vice president now owns 39,385 shares in the company, valued at $3,812,074.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,318 shares of company stock valued at $1,020,715. Company insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

BDC has been the subject of several recent analyst reports. Vertical Research started coverage on shares of Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective for the company. Truist Financial lifted their price target on Belden from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Benchmark upped their price objective on Belden from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden has a consensus rating of “Buy” and an average target price of $112.00.

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.