Teacher Retirement System of Texas Reduces Stock Position in Belden Inc (NYSE:BDC)

Teacher Retirement System of Texas trimmed its holdings in Belden Inc (NYSE:BDC - Free Report) by 37.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,869 shares of the industrial products company's stock after selling 13,649 shares during the period. Teacher Retirement System of Texas owned 0.06% of Belden worth $2,293,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in Belden in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in Belden in the 1st quarter worth about $35,000. Quarry LP boosted its stake in Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company's stock worth $44,000 after buying an additional 265 shares during the last quarter. GAMMA Investing LLC boosted 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 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 shares of Belden in the 4th quarter worth about $61,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Belden Stock Down 0.7%

Shares of NYSE:BDC traded down $0.89 during mid-day trading on Friday, hitting $122.69. 263,623 shares of the company traded hands, compared to its average volume of 272,315. The firm has a market cap of $4.85 billion, a P/E 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. Belden Inc has a 52-week low of $83.18 and a 52-week high of $131.82. The firm's 50 day simple moving average is $111.96 and its 200 day simple moving average is $108.86.

Belden (NYSE:BDC - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.48 by $0.12. The business had revenue of $624.86 million for 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%. The company's revenue was up 16.6% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. On average, equities analysts anticipate that Belden Inc will post 7.07 EPS for the current year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Thursday, June 12th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. Belden's payout ratio is currently 3.86%.

Insider Transactions at Belden

In other Belden news, SVP Leah Tate sold 231 shares of Belden 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on BDC. The Goldman Sachs Group cut their price objective on Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wall Street Zen downgraded Belden from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Benchmark raised their price objective on Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $128.20.

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.