American Trust Sells 680 Shares of Belden Inc. (NYSE:BDC)

American Trust trimmed its holdings in shares of Belden Inc. (NYSE:BDC – Get Rating) by 12.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,839 shares of the industrial products company’s stock after selling 680 shares during the quarter. American Trust’s holdings in Belden were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BDC. Channing Capital Management LLC grew its position in Belden by 150.0% during the third quarter. Channing Capital Management LLC now owns 988,969 shares of the industrial products company’s stock worth $59,358,000 after buying an additional 593,351 shares in the last quarter. Waters Parkerson & CO. LLC bought a new stake in Belden during the third quarter worth about $11,030,000. New York State Common Retirement Fund lifted its stake in Belden by 84.2% during the third quarter. New York State Common Retirement Fund now owns 277,977 shares of the industrial products company’s stock worth $16,684,000 after purchasing an additional 127,076 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Belden by 22,332.6% during the third quarter. Macquarie Group Ltd. now owns 127,417 shares of the industrial products company’s stock worth $7,682,000 after purchasing an additional 126,849 shares during the last quarter. Finally, Ziegler Capital Management LLC bought a new stake in Belden during the third quarter worth about $7,424,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Belden Trading Down 1.9 %

BDC opened at $81.95 on Friday. The business has a 50 day simple moving average of $83.38 and a two-hundred day simple moving average of $74.84. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 14.25 and a beta of 1.32. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.40 and a quick ratio of 1.87. Belden Inc. has a one year low of $47.89 and a one year high of $92.33.

Belden (NYSE:BDC – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The industrial products company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. The business had revenue of $659.07 million during the quarter, compared to analyst estimates of $644.17 million. Belden had a return on equity of 26.70% and a net margin of 9.77%. Belden’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 EPS. Analysts predict that Belden Inc. will post 6.84 EPS for the current year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Tuesday, March 14th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Belden’s dividend payout ratio (DPR) is 3.48%.

Analyst Upgrades and Downgrades

BDC has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price target on Belden from $76.00 to $87.00 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. Benchmark boosted their target price on Belden from $88.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, February 14th. Jefferies Financial Group initiated coverage on Belden in a research note on Tuesday, November 22nd. They issued a “hold” rating and a $86.00 target price for the company. Truist Financial boosted their target price on Belden from $93.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Finally, Loop Capital boosted their target price on Belden from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.00.

Insiders Place Their Bets

In other Belden news, EVP Anshuman Mehrotra sold 4,360 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $86.99, for a total transaction of $379,276.40. Following the transaction, the executive vice president now owns 12,682 shares in the company, valued at approximately $1,103,207.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jonathan C. Klein sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $81.49, for a total value of $203,725.00. Following the sale, the director now owns 11,553 shares in the company, valued at approximately $941,453.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anshuman Mehrotra sold 4,360 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $86.99, for a total value of $379,276.40. Following the completion of the sale, the executive vice president now owns 12,682 shares in the company, valued at approximately $1,103,207.18. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

About Belden

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Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.