Swiss National Bank Sells 600 Shares of Belden Inc. (NYSE:BDC)

Swiss National Bank decreased its holdings in shares of Belden Inc. (NYSE:BDC) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,400 shares of the industrial products company’s stock after selling 600 shares during the period. Swiss National Bank’s holdings in Belden were worth $9,300,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in shares of Belden by 15.8% during the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock worth $29,365,000 after buying an additional 42,600 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Belden by 2.1% in the 2nd quarter. Retirement Systems of Alabama now owns 249,573 shares of the industrial products company’s stock valued at $23,410,000 after purchasing an additional 5,209 shares in the last quarter. Waters Parkerson & CO. LLC boosted its stake in shares of Belden by 2.2% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 214,322 shares of the industrial products company’s stock valued at $20,103,000 after purchasing an additional 4,636 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Belden by 60.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 167,430 shares of the industrial products company’s stock worth $15,705,000 after purchasing an additional 63,216 shares in the last quarter. Finally, F M Investments LLC lifted its holdings in Belden by 2.3% during the 3rd quarter. F M Investments LLC now owns 138,033 shares of the industrial products company’s stock valued at $16,168,000 after purchasing an additional 3,070 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Belden Price Performance

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

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

Belden Dividend Announcement

The company 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 dividend of $0.05 per share. 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 is currently 4.65%.

Insider Buying and Selling at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the sale, the chief accounting officer now owns 6,643 shares in the company, valued at approximately $855,751.26. The trade was a 31.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.