Belden Inc. (NYSE:BDC) Stock Position Lowered by American Century Companies Inc.

American Century Companies Inc. lowered its position in shares of Belden Inc. (NYSE:BDC) by 47.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,725 shares of the industrial products company’s stock after selling 270,677 shares during the quarter. American Century Companies Inc. owned 0.74% of Belden worth $28,208,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in shares of Belden in the 2nd quarter worth approximately $28,000. Rise Advisors LLC acquired a new position in Belden in the first quarter worth approximately $32,000. Whittier Trust Co. increased its holdings in shares of Belden by 662.2% in the first 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. Quadrant Capital Group LLC lifted its position in shares of Belden by 41.7% during the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 244 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Belden during the 4th quarter worth $72,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BDC shares. Truist Financial upped their target price on Belden from $123.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Benchmark boosted their price target on shares of Belden from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. Finally, 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 for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $112.50.

Belden Stock Performance

Shares of BDC opened at $106.63 on Thursday. The company has a market capitalization of $4.34 billion, a PE ratio of 21.06 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 company’s 50 day moving average price is $99.03 and its 200 day moving average price is $93.67. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $110.34.

Belden (NYSE:BDC) last posted 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. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business had revenue of $604.34 million for the quarter, compared to analysts’ expectations of $574.32 million. During the same period in the previous year, the company posted $1.91 EPS. Belden’s revenue was down 12.7% on a year-over-year basis. Research analysts expect that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. Belden’s dividend payout ratio is 3.91%.

Insider Buying and Selling

In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of Belden stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 directly owns 39,385 shares in the company, valued at $3,812,074.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the 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 transaction, the director now owns 6,954 shares in the company, valued at $667,444.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now owns 39,385 shares in the company, valued at $3,812,074.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,137 shares of company stock worth $1,095,457. Insiders own 1.59% of the company’s stock.

Belden Company 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.