Federated Hermes Inc. Sells 1,592 Shares of Belden Inc. (NYSE:BDC)

Federated Hermes Inc. lessened its holdings in Belden Inc. (NYSE:BDC) by 22.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,455 shares of the industrial products company’s stock after selling 1,592 shares during the quarter. Federated Hermes Inc.’s holdings in Belden were worth $421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BDC. State of Alaska Department of Revenue increased its holdings in Belden by 588.5% during the 4th quarter. State of Alaska Department of Revenue now owns 34,612 shares of the industrial products company’s stock worth $2,673,000 after purchasing an additional 29,585 shares during the period. Natixis Advisors L.P. increased its stake in shares of Belden by 75.4% during the third quarter. Natixis Advisors L.P. now owns 27,098 shares of the industrial products company’s stock valued at $2,616,000 after buying an additional 11,651 shares during the period. South Dakota Investment Council raised its holdings in shares of Belden by 22.4% in the third quarter. South Dakota Investment Council now owns 53,634 shares of the industrial products company’s stock valued at $5,178,000 after acquiring an additional 9,801 shares in the last quarter. Channing Capital Management LLC lifted its stake in Belden by 7.6% in the third quarter. Channing Capital Management LLC now owns 710,014 shares of the industrial products company’s stock worth $68,552,000 after acquiring an additional 50,256 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in Belden by 10.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 112,789 shares of the industrial products company’s stock worth $10,890,000 after acquiring an additional 10,626 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Stock Down 0.8 %

Shares of Belden stock opened at $88.23 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The company has a market cap of $3.59 billion, a P/E ratio of 17.27 and a beta of 1.07. The firm’s 50 day moving average price is $87.12 and its 200-day moving average price is $78.22. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $99.13.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The business had revenue of $536.00 million for the quarter, compared to analyst estimates of $514.27 million. During the same period in the previous year, the company earned $1.68 earnings per share. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, sell-side analysts predict that Belden Inc. will post 5.33 EPS for the current fiscal year.

Belden Dividend Announcement

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 was Wednesday, March 13th. Belden’s dividend payout ratio is presently 3.91%.

Insider Transactions at Belden

In other Belden 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 transaction of $169,208.80. Following the sale, the executive vice president now owns 21,772 shares of the company’s stock, valued at approximately $1,791,835.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BDC. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial upped their target price on Belden from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Belden has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

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.