New York State Teachers Retirement System Increases Holdings in Belden Inc. (NYSE:BDC)

New York State Teachers Retirement System boosted its stake in shares of Belden Inc. (NYSE:BDC) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,569 shares of the industrial products company’s stock after acquiring an additional 2,936 shares during the quarter. New York State Teachers Retirement System owned 0.16% of Belden worth $5,142,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Atlas Capital Advisors LLC increased its position in shares of Belden by 2.3% in the fourth quarter. Atlas Capital Advisors LLC now owns 5,346 shares of the industrial products company’s stock valued at $384,000 after buying an additional 121 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Belden by 3.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,301 shares of the industrial products company’s stock valued at $415,000 after buying an additional 158 shares in the last quarter. Arizona State Retirement System increased its position in shares of Belden by 1.4% in the third quarter. Arizona State Retirement System now owns 12,115 shares of the industrial products company’s stock valued at $1,170,000 after buying an additional 169 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Belden by 15.1% in the third quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock valued at $153,000 after buying an additional 209 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its position in shares of Belden by 88.0% during the first quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 241 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Belden Price Performance

BDC opened at $85.26 on Friday. The stock’s 50-day moving average price is $86.45 and its 200 day moving average price is $79.00. The company has a current ratio of 2.30, a quick ratio of 1.72 and a debt-to-equity ratio of 1.03. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $99.13. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 15.06 and a beta of 1.04.

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

Belden Announces Dividend

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

Insider Buying and Selling at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of Belden 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 sale, the executive vice president now owns 21,772 shares in the company, valued at approximately $1,791,835.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Truist Financial boosted their price target on Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

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.