Arizona State Retirement System Sells 291 Shares of Belden Inc. (NYSE:BDC)

Arizona State Retirement System decreased its holdings in Belden Inc. (NYSE:BDC) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,824 shares of the industrial products company’s stock after selling 291 shares during the quarter. Arizona State Retirement System’s holdings in Belden were worth $913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Atlas Capital Advisors LLC boosted its holdings 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 worth $384,000 after buying an additional 121 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings 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 worth $415,000 after buying an additional 158 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings 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 worth $153,000 after buying an additional 209 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in shares of Belden by 88.0% in the first quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock worth $29,000 after buying an additional 241 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Belden by 31.9% in the fourth quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock worth $83,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Transactions at Belden

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

Belden Price Performance

NYSE BDC opened at $84.55 on Wednesday. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $99.13. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 14.94 and a beta of 1.04. The company’s 50 day moving average is $86.86 and its two-hundred day moving average is $78.73. 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 (NYSE:BDC) last released its earnings results on Thursday, February 8th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.34. Belden had a net margin of 9.66% and a return on equity of 25.11%. The company had revenue of $551.24 million for the quarter, compared to analysts’ expectations of $522.06 million. During the same quarter last year, the business earned $1.75 EPS. The firm’s revenue was down 16.4% compared to the same quarter last year. As a group, research analysts anticipate that Belden Inc. will post 5.33 earnings per share for the current year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 13th. Belden’s dividend payout ratio (DPR) is presently 3.53%.

Analyst Ratings Changes

Separately, Truist Financial raised their target price on shares of Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.