California State Teachers Retirement System Grows Stake in Belden Inc $BDC

Key Points

• California State Teachers Retirement System increased its Belden stake by 11,566.6% in the second quarter, acquiring 5.3 million additional shares and ending with a 13.7% ownership position valued at $641.8 million. Institutional investors collectively own 98.75% of the company.
• Belden’s latest quarterly results exceeded expectations, with adjusted EPS of $2.34 versus the $2.02 consensus and revenue of $750.2 million, up 11.6% year over year. The company issued third-quarter EPS guidance of $2.15–$2.30.
• Analysts maintain a generally positive view, giving Belden a consensus “Moderate Buy” rating and an average price target of $160, while the company announced a quarterly dividend of $0.05 per share.

California State Teachers Retirement System raised its position in Belden Inc (NYSE:BDC - Free Report) by 11,566.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,352,183 shares of the industrial products company's stock after purchasing an additional 5,306,307 shares during the period. California State Teachers Retirement System owned about 13.70% of Belden worth $641,780,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BDC. BlackRock Inc. purchased a new position in shares of Belden during the 2nd quarter worth approximately $616,536,000. Leeward Investments LLC MA lifted its stake in Belden by 5.3% in the 1st quarter. Leeward Investments LLC MA now owns 137,376 shares of the industrial products company's stock valued at $15,775,000 after buying an additional 6,923 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Belden by 351.7% during the 1st quarter. Janus Henderson Group PLC now owns 155,674 shares of the industrial products company's stock valued at $17,878,000 after buying an additional 121,210 shares during the last quarter. Bank of America Corp DE grew its holdings in 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 buying an additional 20,465 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in Belden during the second quarter worth $5,649,000. Hedge funds and other institutional investors own 98.75% of the company's stock.

Belden Stock Down 7.1%

Shares of BDC opened at $113.56 on Tuesday. Belden Inc has a fifty-two week low of $98.00 and a fifty-two week high of $159.99. The company's fifty day moving average is $117.05 and its two-hundred day moving average is $117.96. The firm has a market cap of $4.44 billion, a PE ratio of 18.46 and a beta of 1.09. The company has a quick ratio of 1.49, a current ratio of 2.14 and a debt-to-equity ratio of 0.89.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.32. Belden had a return on equity of 25.00% and a net margin of 8.52%.The company had revenue of $750.16 million for the quarter, compared to the consensus estimate of $746.75 million. During the same period last year, the business posted $1.89 EPS. The company's quarterly revenue was up 11.6% compared to the same quarter last year. Belden has set its Q3 2026 guidance at 2.150-2.300 EPS. Analysts forecast that Belden Inc will post 8.69 earnings per share for the current year.

Belden Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BDC shares. Truist Financial reissued a "buy" rating and issued a $145.00 target price (down from $155.00) on shares of Belden in a research note on Friday, July 31st. Zacks Research cut shares of Belden from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 2nd. DA Davidson lifted their price target on shares of Belden from $155.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Citigroup began coverage on shares of Belden in a research report on Friday, June 26th. They issued a "buy" rating and a $150.00 price objective for the company. Finally, Weiss Ratings raised shares of Belden from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $160.00.

About Belden

Belden Inc NYSE: BDC is a global provider of signal transmission, connectivity and networking solutions. The company designs and manufactures products that help businesses transmit data, video and other signals across enterprise, industrial and broadcast environments.

Its offerings include copper and fiber-optic cable, connectivity components, networking equipment, industrial automation and control products, and solutions for data centers, commercial buildings and industrial facilities.

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