Knights of Columbus Asset Advisors LLC Has $2.35 Million Stake in Belden Inc (NYSE:BDC)

Key Points

• Knights of Columbus Asset Advisors LLC has reduced its holdings in Belden Inc by 15.1%, selling 4,154 shares and now owning approximately 0.06% of the company valued at $2,350,000.
• Belden's recent earnings report showed a profit of $1.60 per share, exceeding expectations, with a revenue of $624.86 million, marking a 16.6% increase year-over-year.
• The company declared a quarterly dividend of $0.05, reflecting an annualized yield of 0.16% and a payout ratio of 3.86%.

Knights of Columbus Asset Advisors LLC lessened its stake in Belden Inc (NYSE:BDC - Free Report) by 15.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,440 shares of the industrial products company's stock after selling 4,154 shares during the quarter. Knights of Columbus Asset Advisors LLC owned 0.06% of Belden worth $2,350,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Belden by 5.0% in the fourth quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock valued at $530,418,000 after buying an additional 223,887 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Belden by 0.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,043,510 shares of the industrial products company's stock valued at $105,478,000 after buying an additional 7,683 shares during the period. Lord Abbett & CO. LLC raised its holdings in Belden by 0.5% in the fourth quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company's stock valued at $80,154,000 after buying an additional 3,692 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Belden by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company's stock valued at $78,309,000 after buying an additional 18,825 shares during the period. Finally, Northern Trust Corp raised its holdings in Belden by 10.2% in the fourth quarter. Northern Trust Corp now owns 633,204 shares of the industrial products company's stock valued at $71,305,000 after buying an additional 58,508 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Belden

In other Belden news, SVP Leah Tate sold 231 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the completion of the sale, the senior vice president owned 30,170 shares of the company's stock, valued at $3,428,518.80. This represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian Edward Anderson sold 7,158 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $130.51, for a total value of $934,190.58. Following the transaction, the senior vice president owned 39,574 shares of the company's stock, valued at approximately $5,164,802.74. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BDC has been the topic of a number of analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Belden in a research note on Friday, July 11th. Benchmark raised their price target on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Finally, Wall Street Zen raised shares of Belden from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $132.75.

Belden Price Performance

BDC stock traded up $1.26 during trading on Monday, hitting $129.82. The company had a trading volume of 223,990 shares, compared to its average volume of 277,694. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 25.06 and a beta of 1.24. The business has a 50 day moving average of $115.87 and a 200 day moving average of $109.78. Belden Inc has a fifty-two week low of $83.18 and a fifty-two week high of $131.82. The company has a current ratio of 1.93, a quick ratio of 1.29 and a debt-to-equity ratio of 0.96.

Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.48 by $0.12. Belden had a net margin of 8.35% and a return on equity of 22.28%. The firm had revenue of $624.86 million for the quarter, compared to analysts' expectations of $615.81 million. During the same period in the previous year, the business earned $1.24 earnings per share. Belden's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts predict that Belden Inc will post 7.07 earnings per share for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.20 annualized dividend and a yield of 0.15%. Belden's payout ratio is presently 3.86%.

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.