New York State Teachers Retirement System Has $5.67 Million Stake in Belden Inc (NYSE:BDC)

New York State Teachers Retirement System decreased its position in shares of Belden Inc (NYSE:BDC - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,523 shares of the industrial products company's stock after selling 6,800 shares during the quarter. New York State Teachers Retirement System owned about 0.14% of Belden worth $5,666,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of BDC. FMR LLC boosted its position in shares of Belden by 5.0% during the fourth quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock worth $530,418,000 after buying an additional 223,887 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Belden by 0.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,043,510 shares of the industrial products company's stock worth $105,478,000 after acquiring an additional 7,683 shares during the period. Lord Abbett & CO. LLC raised its position 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 worth $80,154,000 after acquiring an additional 3,692 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Belden by 2.8% during the 4th 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 purchasing an additional 18,825 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Belden by 10.2% in the 4th quarter. Northern Trust Corp now owns 633,204 shares of the industrial products company's stock worth $71,305,000 after purchasing an additional 58,508 shares during the last quarter. Institutional investors own 98.75% of the company's stock.

Insider Activity

In other Belden news, SVP Leah Tate sold 231 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total value of $26,250.84. Following the transaction, the senior vice president directly owned 30,170 shares in the company, valued at $3,428,518.80. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BDC. Wall Street Zen lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. Benchmark upped their price target on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Finally, The Goldman Sachs Group reduced their price objective on Belden from $139.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden presently has an average rating of "Buy" and a consensus target price of $128.20.

Belden Price Performance

NYSE BDC traded down $2.23 on Monday, reaching $119.54. The company's stock had a trading volume of 211,284 shares, compared to its average volume of 271,141. Belden Inc has a 52 week low of $83.18 and a 52 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. The firm has a market cap of $4.72 billion, a PE ratio of 23.08 and a beta of 1.24. The business has a 50-day moving average price of $110.08 and a 200 day moving average price of $108.52.

Belden (NYSE:BDC - Get Free Report) last posted its 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. The business had revenue of $624.86 million during the quarter, compared to the consensus estimate of $615.81 million. Belden had a return on equity of 22.28% and a net margin of 8.35%. Belden's revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company earned $1.24 EPS. Sell-side analysts expect that Belden Inc will post 7.07 EPS for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, June 12th. Belden's payout ratio is 3.86%.

About Belden

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.