Ceredex Value Advisors LLC decreased its position in shares of Belden Inc. (NYSE:BDC – Free Report) by 41.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,171 shares of the industrial products company’s stock after selling 67,200 shares during the period. Ceredex Value Advisors LLC’s holdings in Belden were worth $11,035,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. F M Investments LLC acquired a new stake in shares of Belden during the 2nd quarter valued at about $12,659,000. Public Employees Retirement Association of Colorado lifted its stake in Belden by 1,724.8% in the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock valued at $9,651,000 after acquiring an additional 98,503 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Belden in the third quarter valued at approximately $82,320,000. Renaissance Technologies LLC increased its stake in shares of Belden by 15.8% during the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock worth $29,365,000 after purchasing an additional 42,600 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Belden during the 2nd quarter valued at $1,119,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.
Insider Activity
In related news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the sale, the director now directly owns 6,954 shares of the company’s stock, valued at $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares of the company’s stock, valued at $667,444.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the sale, the senior vice president now directly owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,318 shares of company stock valued at $1,020,715. Insiders own 1.59% of the company’s stock.
Belden Price Performance
Belden (NYSE:BDC – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.10. Belden had a return on equity of 21.13% and a net margin of 8.51%. The company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. During the same period in the prior year, the business earned $1.78 earnings per share. Belden’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts predict that Belden Inc. will post 6.04 earnings per share for the current year.
Belden Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden’s payout ratio is 4.65%.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Benchmark raised their target price on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday. Vertical Research started coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price for the company. Finally, Truist Financial increased their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden currently has an average rating of “Buy” and an average target price of $116.40.
Read Our Latest Stock Analysis on Belden
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.
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