Belden Inc (NYSE:BDC) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC cut its holdings in shares of Belden Inc (NYSE:BDC) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,755 shares of the industrial products company’s stock after selling 435 shares during the period. Yousif Capital Management LLC’s holdings in Belden were worth $1,379,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new stake in Belden during the fourth quarter worth approximately $26,000. Quarry LP lifted its stake in Belden by 208.7% in the fourth quarter. Quarry LP now owns 392 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 265 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Belden in the 4th quarter valued at $61,000. First Horizon Advisors Inc. lifted its position in shares of Belden by 49.9% in the fourth quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company’s stock worth $71,000 after buying an additional 211 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 199 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

Shares of Belden stock opened at $108.83 on Wednesday. The firm has a 50 day simple moving average of $104.92 and a 200 day simple moving average of $109.11. The firm has a market cap of $4.30 billion, a P/E ratio of 21.01 and a beta of 1.23. Belden Inc has a fifty-two week low of $83.18 and a fifty-two week high of $131.82. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.29.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.48 by $0.12. Belden had a net margin of 8.35% and a return on equity of 22.28%. The company had revenue of $624.86 million during the quarter, compared to analysts’ expectations of $615.81 million. During the same quarter in the previous year, the company earned $1.24 EPS. Belden’s revenue was up 16.6% on a year-over-year basis. Sell-side analysts predict that Belden Inc will post 7.07 earnings per share for the current fiscal year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, June 12th. Belden’s payout ratio is presently 3.86%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wall Street Zen cut Belden from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 14th. The Goldman Sachs Group dropped their price objective on shares of Belden from $139.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Benchmark increased their price objective on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $128.20.

Insiders Place Their Bets

In related news, SVP Leah Tate sold 231 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the completion of the transaction, the senior vice president now directly owns 30,170 shares in the company, valued at approximately $3,428,518.80. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.48% of the company’s stock.

Belden 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.