17,830 Belden Inc $BDC Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing reduced its Belden stake by 74.9%, selling 17,830 shares during the third quarter and retaining 5,960 shares valued at approximately $643,000.
• Institutional ownership remains high at 98.75%, with several major investors—including BlackRock and Bank of New York Mellon—initiating or increasing positions.
• Analysts maintain a generally positive outlook, giving Belden a consensus “Moderate Buy” rating and an average price target of $156, while the company recently exceeded quarterly earnings and revenue expectations.

Inspire Investing LLC lessened its stake in Belden Inc (NYSE:BDC - Free Report) by 74.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,960 shares of the industrial products company's stock after selling 17,830 shares during the quarter. Inspire Investing LLC's holdings in Belden were worth $643,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Belden in the 2nd quarter valued at $616,536,000. Bank of New York Mellon Corp purchased a new stake in Belden in the 2nd quarter worth $35,834,000. Bank of America Corp DE boosted its holdings in shares of Belden by 9.4% during the 1st quarter. Bank of America Corp DE now owns 238,651 shares of the industrial products company's stock valued at $27,404,000 after purchasing an additional 20,465 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Belden during the 2nd quarter valued at about $21,361,000. Finally, Sei Investments Co. boosted its holdings in shares of Belden by 9.4% during the 1st quarter. Sei Investments Co. now owns 155,869 shares of the industrial products company's stock valued at $17,898,000 after purchasing an additional 13,350 shares during the last quarter. Institutional investors own 98.75% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings raised Belden from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, September 3rd. Wall Street Zen downgraded Belden from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 29th. Needham & Company LLC began coverage on Belden in a research note on Wednesday, September 23rd. They set a "buy" rating and a $140.00 price target for the company. Fox Advisors upgraded Belden from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 9th. Finally, Truist Financial restated a "buy" rating and set a $145.00 price target (down from $155.00) on shares of Belden in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Belden currently has a consensus rating of "Moderate Buy" and an average price target of $156.00.

Belden Stock Down 0.6%

Shares of NYSE BDC opened at $106.88 on Thursday. The firm's 50-day moving average price is $112.22 and its 200-day moving average price is $118.28. The company has a current ratio of 2.14, a quick ratio of 1.49 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 17.38 and a beta of 1.13. Belden Inc has a 12-month low of $98.00 and a 12-month high of $159.99.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.34 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.32. Belden had a net margin of 8.52% and a return on equity of 25.00%. The firm had revenue of $750.16 million during the quarter, compared to the consensus estimate of $746.75 million. During the same quarter last year, the firm earned $1.89 EPS. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that Belden Inc will post 8.69 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, September 16th. Belden's dividend payout ratio (DPR) is presently 3.25%.

Belden Company Profile

Belden Inc NYSE: BDC is a global provider of signal transmission and networking solutions. The company designs and manufactures products that support the secure movement of data, audio and video across enterprise, industrial and broadcast environments.

Its product portfolio includes copper and fiber-optic cable, connectors, patching and rack systems, industrial Ethernet equipment, network infrastructure, cybersecurity and software-enabled solutions. Belden's offerings are used in applications such as industrial automation, transportation, energy, enterprise networking, data centers, smart buildings and professional broadcasting.

Founded in 1902, Belden serves customers through operations and distribution channels spanning North America, Europe, Asia and other international markets.

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