Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in Belden Inc. (NYSE:BDC)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Belden Inc. (NYSE:BDC) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,891 shares of the industrial products company’s stock after selling 325 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Belden were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of Belden by 8.2% during the first quarter. Bank of Montreal Can now owns 15,131 shares of the industrial products company’s stock worth $867,000 after purchasing an additional 1,142 shares in the last quarter. MetLife Investment Management LLC increased its position in Belden by 40.1% during the 1st quarter. MetLife Investment Management LLC now owns 52,012 shares of the industrial products company’s stock valued at $2,881,000 after buying an additional 14,895 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in Belden in the first quarter valued at about $961,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Belden by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,455 shares of the industrial products company’s stock worth $912,000 after acquiring an additional 1,569 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new stake in shares of Belden during the first quarter worth about $762,000. 99.16% of the stock is currently owned by institutional investors.

Belden Stock Up 1.4 %

Belden stock opened at $68.92 on Friday. The business’s 50-day moving average price is $81.76 and its 200 day moving average price is $87.72. The company has a quick ratio of 1.95, a current ratio of 2.55 and a debt-to-equity ratio of 0.96. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 11.17 and a beta of 1.25. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $99.13.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Wednesday, September 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Tuesday, September 12th. Belden’s dividend payout ratio (DPR) is 3.24%.

Insider Activity at Belden

In other news, SVP Leah Tate purchased 1,550 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of $64.53 per share, for a total transaction of $100,021.50. Following the completion of the transaction, the senior vice president now owns 3,360 shares in the company, valued at $216,820.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BDC shares. Fox Advisors cut shares of Belden from an “overweight” rating to an “equal weight” rating in a research note on Friday, October 13th. Loop Capital dropped their price objective on shares of Belden from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, October 16th. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research note on Monday, November 13th. The Goldman Sachs Group dropped their price target on Belden from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Finally, UBS Group initiated coverage on Belden in a report on Wednesday, September 27th. They set a “buy” rating and a $115.00 target price for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.83.

About Belden

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 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, and home and building automation.