Thrivent Financial for Lutherans Sells 242 Shares of Belden Inc. (NYSE:BDC)

Thrivent Financial for Lutherans lessened its stake in Belden Inc. (NYSE:BDC) by 2.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,587 shares of the industrial products company’s stock after selling 242 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Belden were worth $1,123,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 117 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Belden by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 148 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Belden by 7.4% in the 3rd quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 193 shares in the last quarter. Matrix Trust Co bought a new position in shares of Belden during the 3rd quarter valued at about $25,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of Belden by 0.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company’s stock valued at $4,068,000 after buying an additional 215 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

Belden Stock Up 0.4 %

BDC opened at $122.40 on Monday. Belden Inc. has a 12 month low of $65.64 and a 12 month high of $131.82. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $119.37 and its 200-day moving average price is $105.09. The company has a market cap of $4.94 billion, a P/E ratio of 28.47 and a beta of 1.07.

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

Belden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.16%. Belden’s payout ratio is currently 4.65%.

Wall Street Analyst Weigh In

BDC has been the subject of several research reports. Truist Financial upped their target price on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Benchmark boosted their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden currently has a consensus rating of “Buy” and a consensus target price of $122.75.

Insiders Place Their Bets

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

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.