State of New Jersey Common Pension Fund D lowered its position in shares of Belden Inc. (NYSE:BDC – Free Report) by 5.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,616 shares of the industrial products company’s stock after selling 1,105 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Belden were worth $2,180,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Matrix Trust Co purchased a new stake in Belden during the third quarter worth approximately $25,000. GAMMA Investing LLC raised its position in Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Belden during the second quarter worth about $28,000. Innealta Capital LLC purchased a new stake in shares of Belden in the second quarter worth about $95,000. Finally, Covestor Ltd grew its stake in shares of Belden by 33.9% in the first quarter. Covestor Ltd now owns 1,166 shares of the industrial products company’s stock valued at $108,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.
Insider Activity
In other Belden news, CAO Doug Zink sold 3,000 shares of Belden stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total value of $386,460.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.59% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on BDC
Belden Stock Down 1.3 %
BDC stock opened at $119.74 on Friday. 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 has a 50 day simple moving average of $115.50 and a 200-day simple moving average of $102.49. The company has a market capitalization of $4.83 billion, a P/E ratio of 27.85 and a beta of 1.07. Belden Inc. has a twelve month low of $65.52 and a twelve month high of $131.82.
Belden (NYSE:BDC – Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter in the previous year, the firm earned $1.78 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts predict that Belden Inc. will post 6.12 earnings per share for the current fiscal year.
Belden Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were given a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden’s payout ratio is 4.65%.
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.
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