State of Alaska Department of Revenue Sells 370 Shares of Belden Inc. (NYSE:BDC)

State of Alaska Department of Revenue lowered its stake in shares of Belden Inc. (NYSE:BDCGet Rating) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,040 shares of the industrial products company’s stock after selling 370 shares during the quarter. State of Alaska Department of Revenue’s holdings in Belden were worth $362,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd boosted its stake in shares of Belden by 88.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 241 shares during the last quarter. Pinebridge Investments L.P. raised its position in shares of Belden by 483.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 583 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 483 shares during the period. Meeder Asset Management Inc. raised its position in shares of Belden by 2,935.1% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 1,086 shares during the period. Eagle Bay Advisors LLC raised its position in shares of Belden by 116.5% in the 2nd quarter. Eagle Bay Advisors LLC now owns 1,518 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 817 shares during the period. Finally, Captrust Financial Advisors raised its position in shares of Belden by 95.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,560 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 762 shares during the period. Institutional investors own 99.88% of the company’s stock.

Insider Transactions at Belden

In related news, Director Jonathan C. Klein sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $79.82, for a total value of $79,820.00. Following the completion of the transaction, the director now directly owns 14,053 shares of the company’s stock, valued at $1,121,710.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.06% of the company’s stock.

Belden Price Performance

Shares of BDC opened at $80.99 on Friday. The stock has a market capitalization of $3.47 billion, a P/E ratio of 25.15 and a beta of 1.36. Belden Inc. has a twelve month low of $47.89 and a twelve month high of $82.83. The company has a 50 day moving average of $76.82 and a 200-day moving average of $68.40. The company has a quick ratio of 1.89, a current ratio of 2.54 and a debt-to-equity ratio of 0.92.

Belden (NYSE:BDCGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The industrial products company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.20. The company had revenue of $670.49 million during the quarter, compared to analysts’ expectations of $634.29 million. Belden had a net margin of 5.53% and a return on equity of 26.35%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $1.31 EPS. As a group, equities research analysts forecast that Belden Inc. will post 6.33 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Thursday, December 15th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, December 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Belden’s dividend payout ratio is currently 6.21%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BDC. Truist Financial increased their price target on shares of Belden from $77.00 to $82.00 in a research report on Thursday, November 3rd. The Goldman Sachs Group raised their target price on shares of Belden from $67.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, November 3rd. Jefferies Financial Group assumed coverage on shares of Belden in a report on Tuesday, November 22nd. They set a “hold” rating and a $86.00 target price on the stock. Finally, StockNews.com assumed coverage on shares of Belden in a report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.00.

Belden Profile

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Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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