Retirement Systems of Alabama raised its position in Belden Inc (NYSE:BDC - Free Report) by 14.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 203,940 shares of the industrial products company's stock after purchasing an additional 25,677 shares during the period. Retirement Systems of Alabama owned 0.51% of Belden worth $20,445,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in Belden in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Belden during the first quarter valued at about $35,000. Quarry LP lifted its position in shares of Belden by 208.7% during the fourth quarter. Quarry LP now owns 392 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 265 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Belden by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock worth $45,000 after buying an additional 115 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Belden in the fourth quarter worth $61,000. 98.75% of the stock is owned by institutional investors.
Insider Activity at Belden
In other news, SVP Leah Tate sold 231 shares of the company'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 sale, the senior vice president now directly owns 30,170 shares of the company's stock, valued at $3,428,518.80. This represents a 0.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.48% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on BDC shares. Wall Street Zen lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Benchmark increased their price target on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Finally, The Goldman Sachs Group reduced their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden currently has an average rating of "Buy" and a consensus target price of $128.20.
Read Our Latest Report on BDC
Belden Price Performance
Shares of NYSE:BDC traded up $2.11 on Monday, hitting $111.94. The company's stock had a trading volume of 183,312 shares, compared to its average volume of 269,948. The company has a market capitalization of $4.42 billion, a PE ratio of 21.61 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.29. The company has a 50-day simple moving average of $105.83 and a 200 day simple moving average of $108.74. Belden Inc has a 1 year low of $83.18 and a 1 year high of $131.82.
Belden (NYSE:BDC - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.12. Belden had a net margin of 8.35% and a return on equity of 22.28%. The business had revenue of $624.86 million for the quarter, compared to the consensus estimate of $615.81 million. During the same period last year, the firm posted $1.24 earnings per share. Belden's quarterly revenue was up 16.6% on a year-over-year basis. Sell-side analysts forecast that Belden Inc will post 7.07 EPS for the current fiscal 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 0.18%. Belden's dividend payout ratio (DPR) is presently 3.86%.
About Belden
(
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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