Mirae Asset Global Investments Co. Ltd. Buys 11,010 Shares of Belden Inc. (NYSE:BDC)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Belden Inc. (NYSE:BDCFree Report) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,684 shares of the industrial products company’s stock after acquiring an additional 11,010 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.26% of Belden worth $9,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State of Michigan Retirement System increased its position in Belden by 2.0% during the first quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company’s stock worth $944,000 after acquiring an additional 200 shares during the period. Quadrant Capital Group LLC increased its holdings in Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after buying an additional 244 shares during the period. Blue Trust Inc. boosted its stake in shares of Belden by 31.9% in the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 261 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Belden by 2.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,000 shares of the industrial products company’s stock valued at $1,111,000 after purchasing an additional 300 shares in the last quarter. Finally, NBC Securities Inc. boosted its stake in shares of Belden by 4.3% in the 1st quarter. NBC Securities Inc. now owns 7,506 shares of the industrial products company’s stock valued at $695,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 98.75% of the company’s stock.

Insider Activity

In other news, Director David J. Aldrich sold 6,700 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the completion of the sale, the director now directly owns 53,396 shares of the company’s stock, valued at approximately $5,189,557.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Jonathan C. Klein sold 1,607 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $97.29, for a total value of $156,345.03. Following the completion of the sale, the director now directly owns 12,097 shares of the company’s stock, valued at approximately $1,176,917.13. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David J. Aldrich sold 6,700 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $97.19, for a total value of $651,173.00. Following the sale, the director now directly owns 53,396 shares of the company’s stock, valued at $5,189,557.24. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock valued at $911,900 in the last ninety days. 1.59% of the stock is owned by insiders.

Belden Stock Performance

Belden stock opened at $91.80 on Tuesday. The company has a current ratio of 2.55, a quick ratio of 1.83 and a debt-to-equity ratio of 1.02. Belden Inc. has a 1 year low of $60.54 and a 1 year high of $99.13. The company has a market cap of $3.73 billion, a PE ratio of 17.96 and a beta of 1.05. The company’s 50-day moving average is $93.36 and its two-hundred day moving average is $86.16.

Belden (NYSE:BDCGet Free Report) last released its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was down 16.5% compared to the same quarter last year. Equities analysts anticipate that Belden Inc. will post 5.85 earnings per share for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Thursday, June 13th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.22%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BDC shares. Benchmark restated a “buy” rating and issued a $100.00 target price on shares of Belden in a research note on Monday, May 6th. Truist Financial upped their price target on shares of Belden from $119.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday. Loop Capital upped their price target on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.80.

Get Our Latest Analysis on Belden

Belden Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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