Mutual of America Capital Management LLC Sells 1,732 Shares of Belden Inc. (NYSE:BDC)

Mutual of America Capital Management LLC decreased its stake in shares of Belden Inc. (NYSE:BDC) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,796 shares of the industrial products company’s stock after selling 1,732 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Belden were worth $1,993,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BDC. FMR LLC boosted its holdings in shares of Belden by 1,365.5% during the 3rd quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock worth $99,075,000 after buying an additional 956,136 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Belden by 1,283.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 488,729 shares of the industrial products company’s stock worth $3,442,000 after buying an additional 453,414 shares during the period. Norges Bank bought a new stake in shares of Belden during the 4th quarter worth about $30,822,000. BlackRock Inc. boosted its holdings in shares of Belden by 8.0% during the 1st quarter. BlackRock Inc. now owns 5,317,303 shares of the industrial products company’s stock worth $461,382,000 after buying an additional 392,689 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Belden by 76.0% in the 1st quarter. Macquarie Group Ltd. now owns 428,491 shares of the industrial products company’s stock worth $37,180,000 after purchasing an additional 184,997 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their price objective 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 investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.25.

Insider Activity

In other news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 21,772 shares in the company, valued at approximately $1,791,835.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.42% of the company’s stock.

Belden Price Performance

Shares of Belden stock opened at $81.92 on Friday. Belden Inc. has a twelve month low of $60.54 and a twelve month high of $99.13. The company has a quick ratio of 1.72, a current ratio of 2.30 and a debt-to-equity ratio of 1.03. The company has a 50-day simple moving average of $86.94 and a two-hundred day simple moving average of $78.57. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 14.47 and a beta of 1.04.

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

Belden Dividend Announcement

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

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.