Schechter Investment Advisors LLC Sells 2,870 Shares of Belden Inc (NYSE:BDC)

Schechter Investment Advisors LLC reduced its stake in Belden Inc (NYSE:BDC - Free Report) by 14.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,589 shares of the industrial products company's stock after selling 2,870 shares during the quarter. Schechter Investment Advisors LLC's holdings in Belden were worth $1,663,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BDC. Aster Capital Management DIFC Ltd acquired a new stake in Belden in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in Belden in the 1st quarter valued at $35,000. Quarry LP increased its stake in Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company's stock valued at $44,000 after buying an additional 265 shares during the last quarter. GAMMA Investing LLC increased its stake in Belden by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock valued at $45,000 after buying an additional 115 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Belden in the 4th quarter valued at $61,000. 98.75% of the stock is owned by institutional investors.

Insider Buying and Selling at Belden

In other news, SVP Leah Tate sold 231 shares of the company's stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 30,170 shares of the company's stock, valued at approximately $3,428,518.80. This represents a 0.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.48% of the company's stock.

Belden Stock Performance

Shares of BDC stock opened at $122.69 on Monday. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 23.68 and a beta of 1.24. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.29 and a current ratio of 1.93. The company has a 50-day simple moving average of $111.96 and a 200 day simple moving average of $108.78. Belden Inc has a 52 week low of $83.18 and a 52 week high of $131.82.

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

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Thursday, June 12th. Belden's dividend payout ratio (DPR) is presently 3.86%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective 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 boosted their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $128.20.

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.

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