Atlas Capital Advisors Inc. Sells 5,501 Shares of Belden Inc (NYSE:BDC)

Key Points

• Atlas Capital Advisors Inc. reduced its stake in Belden Inc by 72% in Q1, now holding 2,140 shares worth $215,000.
• Belden reported an EPS of $1.89 for Q2, exceeding estimates by $0.17, with a revenue of $671.99 million.
• The company recently announced a quarterly dividend of $0.05 per share, resulting in a dividend yield of 0.2% and a payout ratio of 3.62%.

Atlas Capital Advisors Inc. reduced its stake in shares of Belden Inc (NYSE:BDC - Free Report) by 72.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,140 shares of the industrial products company's stock after selling 5,501 shares during the period. Atlas Capital Advisors Inc.'s holdings in Belden were worth $215,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Belden by 234.7% during the 4th quarter. Bank of America Corp DE now owns 224,363 shares of the industrial products company's stock valued at $25,266,000 after acquiring an additional 157,335 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Belden by 0.6% in the first quarter. Principal Financial Group Inc. now owns 108,615 shares of the industrial products company's stock worth $10,889,000 after purchasing an additional 648 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Belden by 34.7% in the first quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock worth $45,000 after purchasing an additional 115 shares in the last quarter. Novem Group bought a new stake in Belden in the first quarter worth $454,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Belden in the fourth quarter worth $1,126,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Brian Edward Anderson sold 7,158 shares of the stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $130.51, for a total transaction of $934,190.58. Following the sale, the senior vice president directly owned 39,574 shares of the company's stock, valued at $5,164,802.74. This represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.48% of the company's stock.

Belden Stock Performance

Shares of BDC traded down $1.93 during trading hours on Thursday, reaching $125.68. 214,258 shares of the company traded hands, compared to its average volume of 283,723. The stock's fifty day moving average is $119.16 and its 200 day moving average is $110.15. The stock has a market cap of $4.98 billion, a P/E ratio of 22.77 and a beta of 1.28. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.35 and a current ratio of 1.99. Belden Inc has a 1-year low of $83.18 and a 1-year high of $132.99.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $671.99 million during the quarter, compared to analyst estimates of $654.82 million. Belden had a net margin of 8.60% and a return on equity of 23.29%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.51 earnings per share. Equities research analysts anticipate that Belden Inc will post 7.07 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, June 12th. Belden's dividend payout ratio is currently 3.62%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BDC. The Goldman Sachs Group reiterated a "buy" rating on shares of Belden in a report on Friday, July 11th. Benchmark upped their price target on shares of Belden from $130.00 to $145.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Wall Street Zen downgraded Belden from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden presently has a consensus rating of "Buy" and an average price target of $136.50.

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.