KBC Group NV Sells 22,018 Shares of Belden Inc (NYSE:BDC)

KBC Group NV lowered its position in shares of Belden Inc (NYSE:BDC) by 92.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,894 shares of the industrial products company’s stock after selling 22,018 shares during the period. KBC Group NV’s holdings in Belden were worth $190,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in shares of Belden during the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Belden during the first quarter worth approximately $35,000. Quarry LP increased its stake in Belden by 208.7% during the 4th quarter. Quarry LP now owns 392 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 265 shares during the period. GAMMA Investing LLC raised its holdings in Belden by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 115 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Belden in the 4th quarter valued at $61,000. Institutional investors own 98.75% of the company’s stock.

Belden Trading Up 1.1%

Shares of BDC opened at $121.77 on Monday. Belden Inc has a 52-week low of $83.18 and a 52-week high of $131.82. The business’s fifty day moving average is $110.08 and its 200-day moving average is $108.52. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.29 and a current ratio of 1.93. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 23.51 and a beta of 1.24.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.12. Belden had a return on equity of 22.28% and a net margin of 8.35%. The company had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. During the same quarter last year, the company posted $1.24 EPS. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts anticipate that Belden Inc will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Thursday, June 12th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, June 12th. Belden’s dividend payout ratio (DPR) is 3.86%.

Insider Buying and Selling at Belden

In related news, SVP Leah Tate sold 231 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the sale, the senior vice president owned 30,170 shares of the company’s stock, valued at $3,428,518.80. This trade represents a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen cut Belden from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 21st. The Goldman Sachs Group dropped their price objective on Belden from $139.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Benchmark lifted their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, June 17th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Belden presently has an average rating of “Buy” and an average target price of $128.20.

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.