Belden Inc. (NYSE:BDC) Holdings Raised by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its stake in Belden Inc. (NYSE:BDC) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,573 shares of the industrial products company’s stock after buying an additional 5,209 shares during the quarter. Retirement Systems of Alabama owned approximately 0.61% of Belden worth $23,410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its position in Belden by 3.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company’s stock worth $2,816,000 after buying an additional 980 shares in the last quarter. Leeward Investments LLC MA raised its holdings in shares of Belden by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 73,160 shares of the industrial products company’s stock valued at $6,862,000 after purchasing an additional 3,905 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Belden by 666.9% during the 2nd quarter. Blue Trust Inc. now owns 5,506 shares of the industrial products company’s stock valued at $510,000 after purchasing an additional 4,788 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Belden during the 2nd quarter valued at $371,000. Finally, Twelve Points Wealth Management LLC raised its holdings in shares of Belden by 7.9% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 21,460 shares of the industrial products company’s stock valued at $2,013,000 after purchasing an additional 1,564 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Transactions at Belden

In other news, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now directly owns 39,385 shares of the company’s stock, valued at approximately $3,812,074.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Brian Edward Anderson sold 1,262 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now directly owns 39,385 shares of the company’s stock, valued at approximately $3,812,074.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now directly owns 6,954 shares of the company’s stock, valued at $667,444.92. The disclosure for this sale can be found here. In the last three months, insiders sold 13,837 shares of company stock valued at $1,356,183. Company insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Benchmark raised their price target on shares of Belden from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Loop Capital raised their target price on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Vertical Research initiated coverage on shares of Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Truist Financial raised their target price on shares of Belden from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Belden has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Belden Stock Performance

NYSE BDC traded up $2.69 during midday trading on Friday, hitting $106.69. The company had a trading volume of 240,275 shares, compared to its average volume of 271,980. The company has a quick ratio of 1.83, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 20.90 and a beta of 1.06. The firm has a fifty day simple moving average of $95.55 and a two-hundred day simple moving average of $91.09. Belden Inc. has a fifty-two week low of $60.54 and a fifty-two week high of $107.02.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The company had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period last year, the business posted $1.91 EPS. Equities analysts forecast that Belden Inc. will post 5.85 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders 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 0.19%. The ex-dividend date is Thursday, September 12th. Belden’s payout ratio is 3.91%.

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.