Pathstone Holdings LLC Sells 1,128 Shares of Belden Inc. (NYSE:BDC)

Pathstone Holdings LLC cut its holdings in Belden Inc. (NYSE:BDC) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,579 shares of the industrial products company’s stock after selling 1,128 shares during the period. Pathstone Holdings LLC owned 0.07% of Belden worth $3,113,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BDC. Chesapeake Capital Corp IL boosted its holdings in shares of Belden by 16.8% in the third quarter. Chesapeake Capital Corp IL now owns 5,651 shares of the industrial products company’s stock worth $655,000 after acquiring an additional 813 shares during the period. Natixis Advisors LLC boosted its stake in Belden by 1.9% in the 3rd quarter. Natixis Advisors LLC now owns 39,239 shares of the industrial products company’s stock worth $4,596,000 after purchasing an additional 741 shares during the period. KBC Group NV grew its holdings in Belden by 27.8% during the 3rd quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock valued at $148,000 after buying an additional 274 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Belden by 3.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 17,494 shares of the industrial products company’s stock valued at $2,049,000 after buying an additional 617 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Belden in the third quarter worth about $687,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Benchmark boosted their price objective on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial boosted their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $122.75.

Insider Transactions at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction 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 approximately $855,751.26. This trade represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.59% of the company’s stock.

Belden Stock Performance

Shares of NYSE BDC opened at $123.52 on Monday. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 28.73 and a beta of 1.07. The stock’s 50-day moving average is $117.84 and its 200 day moving average is $104.10. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. Belden Inc. has a 1-year low of $65.52 and a 1-year high of $131.82.

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

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a $0.05 dividend. 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 dividend payout ratio (DPR) is presently 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.