Sei Investments Co. Decreases Position in Belden Inc. (NYSE:BDC)

Sei Investments Co. lessened its position in Belden Inc. (NYSE:BDC) by 16.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 196,518 shares of the industrial products company’s stock after selling 39,376 shares during the period. Sei Investments Co.’s holdings in Belden were worth $18,434,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BDC. State of Michigan Retirement System boosted its position in shares of Belden by 2.0% during the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock valued at $944,000 after buying an additional 200 shares during the period. Atlas Capital Advisors LLC grew its holdings in Belden by 16.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,758 shares of the industrial products company’s stock worth $165,000 after acquiring an additional 246 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Belden by 3.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,286 shares of the industrial products company’s stock valued at $871,000 after purchasing an additional 269 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Belden by 3.1% in the 1st quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock worth $882,000 after purchasing an additional 290 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Belden by 33.9% during the first quarter. Covestor Ltd now owns 1,166 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 295 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Vertical Research started 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. Benchmark upped their price objective on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Finally, Truist Financial increased their price target on shares of Belden from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Belden has an average rating of “Moderate Buy” and a consensus price target of $112.50.

Belden Trading Down 1.6 %

Belden stock opened at $114.66 on Thursday. 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 stock has a market cap of $4.68 billion, a PE ratio of 22.44 and a beta of 1.07. The stock has a 50-day moving average of $101.03 and a two-hundred day moving average of $94.64. Belden Inc. has a one year low of $60.54 and a one year high of $117.25.

Belden (NYSE:BDC) last announced its quarterly earnings data 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. The firm had revenue of $604.34 million during the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. Belden’s revenue was down 12.7% on a year-over-year basis. During the same period last year, the firm posted $1.91 EPS. On average, research analysts anticipate that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Insider Activity at Belden

In other Belden news, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Brian Lieser sold 819 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the sale, the executive vice president now owns 21,031 shares in the company, valued at $1,919,289.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the transaction, the senior vice president now directly owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The disclosure for this sale can be found here. Insiders have sold a total of 11,137 shares of company stock valued at $1,095,457 in the last ninety days. Company insiders own 1.59% of the company’s stock.

About Belden

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.