Belden Inc. (NYSE:BDC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Belden Inc. (NYSE:BDC) by 22.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 187,900 shares of the industrial products company’s stock after selling 54,457 shares during the quarter. New York State Common Retirement Fund owned approximately 0.46% of Belden worth $22,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Matrix Trust Co purchased a new stake in Belden in the third quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Belden during the second quarter worth $28,000. Whittier Trust Co. lifted its holdings 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 during the period. GAMMA Investing LLC lifted its holdings in shares of Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 117 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Belden during the second quarter worth $95,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BDC has been the subject of several recent research reports. Truist Financial increased their price target on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a report on Friday. Vertical Research initiated coverage on Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target for the company. Finally, Benchmark increased their price target on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $122.75.

Insider Activity

In other news, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.59% of the company’s stock.

Belden Price Performance

Belden stock opened at $116.17 on Tuesday. Belden Inc. has a one year low of $63.00 and a one year high of $123.03. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.25 and a current ratio of 2.07. The business has a fifty day moving average of $112.21 and a two-hundred day moving average of $100.19. The company has a market cap of $4.74 billion, a P/E ratio of 27.02 and a beta of 1.07.

Belden (NYSE:BDC) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating 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 company had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter last year, the company earned $1.78 earnings per share. Belden’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts predict that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s dividend payout ratio is currently 4.65%.

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.