New York State Teachers Retirement System lowered its position in shares of Belden Inc (NYSE:BDC - Free Report) by 10.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,523 shares of the industrial products company's stock after selling 6,800 shares during the period. New York State Teachers Retirement System owned approximately 0.14% of Belden worth $5,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Belden during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Belden during the 1st quarter worth approximately $35,000. Quarry LP boosted its position in shares of Belden by 208.7% during the 4th quarter. Quarry LP now owns 392 shares of the industrial products company's stock worth $44,000 after purchasing an additional 265 shares during the period. GAMMA Investing LLC boosted its position in shares of Belden by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock worth $45,000 after purchasing an additional 115 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Belden during the 4th quarter worth approximately $61,000. Institutional investors and hedge funds own 98.75% of the company's stock.
Insider Activity
In related news, SVP Leah Tate sold 231 shares of Belden stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total transaction of $26,250.84. Following the sale, the senior vice president directly owned 30,170 shares in the company, valued at $3,428,518.80. This trade represents a 0.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.48% of the company's stock.
Belden Stock Up 1.4%
BDC stock traded up $1.65 during midday trading on Wednesday, hitting $121.98. The company's stock had a trading volume of 280,417 shares, compared to its average volume of 271,953. The company has a quick ratio of 1.29, a current ratio of 1.93 and a debt-to-equity ratio of 0.96. Belden Inc has a 52-week low of $83.18 and a 52-week high of $131.82. The firm has a market capitalization of $4.82 billion, a P/E ratio of 23.55 and a beta of 1.24. The firm has a 50-day simple moving average of $111.16 and a 200-day simple moving average of $108.73.
Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.12. The business had revenue of $624.86 million during the quarter, compared to analysts' expectations of $615.81 million. Belden had a net margin of 8.35% and a return on equity of 22.28%. The company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.24 EPS. As a group, equities analysts forecast that Belden Inc will post 7.07 EPS for the current year.
Belden Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. Belden's dividend payout ratio (DPR) is currently 3.86%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on BDC shares. The Goldman Sachs Group cut their price target on shares of Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Wall Street Zen lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Benchmark raised their price target on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $128.20.
Check Out Our Latest Research Report on Belden
Belden Profile
(
Free Report)
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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