Louisiana State Employees Retirement System Reduces Position in Belden Inc. (NYSE:BDC)

Louisiana State Employees Retirement System lessened its stake in shares of Belden Inc. (NYSE:BDC) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,300 shares of the industrial products company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Belden were worth $1,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Michigan Retirement System lifted its position in Belden by 2.0% during the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock valued at $944,000 after buying an additional 200 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Belden by 11.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,684 shares of the industrial products company’s stock valued at $9,787,000 after purchasing an additional 11,010 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Belden by 9.4% during the 1st quarter. BNP Paribas Financial Markets now owns 29,292 shares of the industrial products company’s stock valued at $2,713,000 after purchasing an additional 2,507 shares during the period. Whittier Trust Co. grew its stake in shares of Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 298 shares during the period. Finally, Texas Permanent School Fund Corp grew its stake in shares of Belden by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 36,480 shares of the industrial products company’s stock valued at $3,378,000 after acquiring an additional 472 shares during the period. Institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the sale, the director now directly owns 6,954 shares in the company, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, 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 value of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares in the company, valued at $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,318 shares of company stock worth $1,020,715. 1.59% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on BDC. Truist Financial boosted 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 began coverage on Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price on the stock. Finally, Benchmark upped their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden presently has an average rating of “Buy” and an average target price of $116.40.

Belden Trading Up 1.2 %

Shares of NYSE BDC opened at $115.24 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25. The stock has a market capitalization of $4.70 billion, a P/E ratio of 24.52 and a beta of 1.07. Belden Inc. has a 1-year low of $60.54 and a 1-year high of $123.03. The business has a fifty day moving average price of $112.21 and a 200 day moving average price of $99.96.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.10. The firm had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. Equities research analysts expect that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were paid a dividend of $0.05 per share. 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 (DPR) is currently 4.26%.

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.