New York State Teachers Retirement System Sells 2,500 Shares of Belden Inc. (NYSE:BDC)

New York State Teachers Retirement System trimmed its holdings in shares of Belden Inc. (NYSE:BDC) by 3.8% during the third quarter, Holdings Channel.com reports. The fund owned 63,523 shares of the industrial products company’s stock after selling 2,500 shares during the quarter. New York State Teachers Retirement System’s holdings in Belden were worth $7,440,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Belden by 72.2% during the third 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. Matrix Trust Co acquired a new stake in Belden during the third quarter worth about $25,000. State of Alaska Department of Revenue grew its stake in Belden by 0.6% during the third quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company’s stock worth $4,068,000 after buying an additional 215 shares in the last quarter. Atlas Capital Advisors LLC grew its stake in Belden by 16.3% during the second quarter. Atlas Capital Advisors LLC now owns 1,758 shares of the industrial products company’s stock worth $165,000 after buying an additional 246 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Belden by 3.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,286 shares of the industrial products company’s stock worth $871,000 after buying an additional 269 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Belden Trading Up 0.8 %

BDC opened at $116.17 on Tuesday. The company’s 50 day moving average is $112.21 and its 200-day moving average is $100.19. Belden Inc. has a 1-year low of $63.00 and a 1-year high of $123.03. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.99. The company has a market cap of $4.74 billion, a P/E ratio of 27.02 and a beta of 1.07.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. The business had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $1.78 EPS. Equities research analysts predict that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Insider Activity at Belden

In related news, SVP Brian Edward Anderson sold 6,556 shares of the firm’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 value of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.59% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Vertical Research assumed coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective on the stock. Benchmark raised their price target on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Finally, Truist Financial raised their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belden has a consensus rating of “Buy” and a consensus price target of $122.75.

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.