11,700 Shares in Belden Inc. (NYSE:BDC) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of Belden Inc. (NYSE:BDC) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 11,700 shares of the industrial products company’s stock, valued at approximately $904,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BDC. Raymond James & Associates grew its position in Belden by 12.2% during the 3rd quarter. Raymond James & Associates now owns 23,476 shares of the industrial products company’s stock worth $2,267,000 after acquiring an additional 2,553 shares during the last quarter. Foster & Motley Inc. grew its position in shares of Belden by 1.9% in the 3rd quarter. Foster & Motley Inc. now owns 29,115 shares of the industrial products company’s stock valued at $2,811,000 after buying an additional 553 shares during the last quarter. GW Henssler & Associates Ltd. bought a new stake in shares of Belden in the 3rd quarter valued at about $225,000. Bank of New York Mellon Corp grew its position in shares of Belden by 15.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 820,463 shares of the industrial products company’s stock valued at $79,216,000 after buying an additional 111,232 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Belden by 24.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,959 shares of the industrial products company’s stock valued at $672,000 after buying an additional 1,349 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling

In related news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the transaction, the executive vice president now directly owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.42% of the stock is owned by company insiders.

Belden Stock Down 0.4 %

Shares of Belden stock opened at $82.89 on Friday. Belden Inc. has a one year low of $60.54 and a one year high of $99.13. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.30 and a quick ratio of 1.72. The stock’s 50-day moving average is $86.86 and its 200 day moving average is $78.37. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 14.64 and a beta of 1.04.

Belden (NYSE:BDC) last announced its earnings results on Thursday, February 8th. The industrial products company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.12 by $0.34. Belden had a return on equity of 25.11% and a net margin of 9.66%. The company had revenue of $551.24 million for the quarter, compared to analyst estimates of $522.06 million. During the same quarter in the prior year, the company earned $1.75 EPS. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. Equities research analysts anticipate that Belden Inc. will post 5.33 EPS for the current year.

Belden Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on BDC shares. StockNews.com lowered Belden from a “buy” rating to a “hold” rating in a research report on Monday. Truist Financial upped their price target on Belden from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Belden Company Profile

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.