Belden Inc. (NYSE:BDC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its stake in Belden Inc. (NYSE:BDC) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,616 shares of the industrial products company’s stock after selling 1,105 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Belden were worth $2,180,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BDC. Tidal Investments LLC lifted its position in shares of Belden by 198.4% during the 1st quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock valued at $1,138,000 after acquiring an additional 8,169 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Belden by 1,724.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after purchasing an additional 98,503 shares in the last quarter. Foster & Motley Inc. grew its holdings in Belden by 25.3% in the third quarter. Foster & Motley Inc. now owns 38,675 shares of the industrial products company’s stock valued at $4,530,000 after purchasing an additional 7,819 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in Belden in the second quarter valued at $503,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of Belden by 3.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company’s stock valued at $2,816,000 after buying an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BDC shares. Vertical Research initiated coverage on shares of Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective on the stock. Truist Financial raised their price objective on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Benchmark upped their target price on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $122.75.

Belden Stock Performance

Shares of NYSE BDC opened at $119.74 on Friday. The company has a 50-day simple moving average of $115.50 and a 200-day simple moving average of $102.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The company has a market cap of $4.83 billion, a PE ratio of 27.85 and a beta of 1.07. Belden Inc. has a 12 month low of $65.52 and a 12 month high of $131.82.

Belden (NYSE:BDC) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.61 by $0.09. The firm had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. Belden’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. On average, equities analysts anticipate that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Announces Dividend

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

Insiders Place Their Bets

In other Belden news, CAO Doug Zink sold 3,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at $855,751.26. This trade represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.59% of the stock is owned by corporate 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.