Mirae Asset Global Investments Co. Ltd. Has $7.31 Million Stock Holdings in Belden Inc. (NYSE:BDC)

Mirae Asset Global Investments Co. Ltd. trimmed its position in Belden Inc. (NYSE:BDC) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,674 shares of the industrial products company’s stock after selling 3,965 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.23% of Belden worth $7,314,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BDC. Bank of Montreal Can grew its holdings in shares of Belden by 8.2% during the 1st 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 grew its holdings in shares of Belden by 40.1% during the 1st quarter. MetLife Investment Management LLC now owns 52,012 shares of the industrial products company’s stock worth $2,881,000 after purchasing an additional 14,895 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Belden during the 1st quarter worth $961,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Belden by 10.5% during the 1st 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 purchasing an additional 1,569 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new stake in shares of Belden during the 1st quarter worth $762,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Belden Stock Performance

NYSE:BDC opened at $85.26 on Friday. The stock’s 50-day simple moving average is $86.45 and its 200 day simple moving average is $79.00. The firm has a market capitalization of $3.47 billion, a PE ratio of 15.06 and a beta of 1.04. The company has a quick ratio of 1.72, a current ratio of 2.30 and a debt-to-equity ratio of 1.03. Belden Inc. has a twelve month low of $60.54 and a twelve month high of $99.13.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.34. The business had revenue of $551.24 million for the quarter, compared to analyst estimates of $522.06 million. Belden had a return on equity of 25.11% and a net margin of 9.66%. Belden’s revenue was down 16.4% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. On average, analysts anticipate that Belden Inc. will post 5.33 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were given a $0.05 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.23%. Belden’s dividend payout ratio is presently 3.53%.

Analyst Ratings Changes

Separately, Truist Financial increased their target price on Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Belden has an average rating of “Moderate Buy” and an average target price of $102.25.

Insider Buying and Selling at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total value of $169,208.80. Following the completion of the transaction, the executive vice president now directly owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.42% of the company’s stock.

About Belden

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.