Ironwood Investment Management LLC Trims Holdings in Belden Inc. (NYSE:BDC)

Ironwood Investment Management LLC trimmed its holdings in Belden Inc. (NYSE:BDC) by 39.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,751 shares of the industrial products company’s stock after selling 7,800 shares during the quarter. Ironwood Investment Management LLC’s holdings in Belden were worth $1,102,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Belden during the 2nd quarter worth approximately $28,000. Rise Advisors LLC acquired a new stake in shares of Belden in the first quarter valued at about $32,000. Whittier Trust Co. increased its stake in shares of Belden by 662.2% during the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 298 shares in the last quarter. TFO Wealth Partners LLC lifted its position in shares of Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Belden during the 2nd quarter worth $95,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

Shares of BDC opened at $115.87 on Monday. The stock has a 50 day moving average price of $101.96 and a 200 day moving average price of $95.10. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $118.26. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 22.68 and a beta of 1.07.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.14. The firm had revenue of $604.34 million during the quarter, compared to analysts’ expectations of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. Belden’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.91 earnings per share. Research analysts predict that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors 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 is currently 3.91%.

Analyst Ratings Changes

BDC has been the subject of several analyst reports. 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. Vertical Research began coverage on shares of Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price on the stock. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Finally, Benchmark boosted their target price on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.00.

Insider Transactions at Belden

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