Belden Inc. (NYSE:BDC) Shares Sold by Covestor Ltd

Covestor Ltd trimmed its holdings in shares of Belden Inc. (NYSE:BDC) by 16.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 865 shares of the industrial products company’s stock after selling 171 shares during the period. Covestor Ltd’s holdings in Belden were worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. F M Investments LLC acquired a new position in Belden in the second quarter valued at approximately $12,659,000. Public Employees Retirement Association of Colorado lifted its position in shares of Belden by 1,724.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after buying an additional 98,503 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Belden in the 3rd quarter valued at $82,320,000. Renaissance Technologies LLC grew its position in shares of Belden by 15.8% in the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock valued at $29,365,000 after buying an additional 42,600 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Belden by 126.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,505 shares of the industrial products company’s stock worth $3,924,000 after acquiring an additional 18,678 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Belden Stock Performance

NYSE BDC opened at $123.84 on Wednesday. The business’s 50-day moving average price is $114.77 and its 200 day moving average price is $102.23. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The firm has a market cap of $5.00 billion, a P/E ratio of 28.80 and a beta of 1.07. Belden Inc. has a 52-week low of $64.13 and a 52-week high of $131.82.

Belden (NYSE:BDC) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (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 business had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s payout ratio is 4.65%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BDC. Truist Financial upped their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Vertical Research began coverage on Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target on the stock. Finally, Benchmark boosted their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $122.75.

Insider Activity

In related news, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Belden news, CAO Doug Zink sold 1,324 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total value of $155,556.76. Following the completion of the transaction, the chief accounting officer now directly owns 9,643 shares of the company’s stock, valued at approximately $1,132,956.07. 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 accessible through the SEC website. Also, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction that occurred 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 directly owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,880 shares of company stock valued at $1,200,633 over the last quarter. Corporate insiders own 1.59% of the company’s stock.

Belden 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.