Arizona State Retirement System Sells 272 Shares of Belden Inc (NYSE:BDC)

Arizona State Retirement System reduced its position in Belden Inc (NYSE:BDC) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,571 shares of the industrial products company’s stock after selling 272 shares during the quarter. Arizona State Retirement System’s holdings in Belden were worth $1,160,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BDC. Aster Capital Management DIFC Ltd acquired a new position in shares of Belden during the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Belden during the 1st quarter valued at $35,000. Quarry LP lifted its position in shares of Belden by 208.7% during the 4th 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 period. GAMMA Investing LLC lifted its position in shares of Belden by 34.7% during 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 during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Belden during the 4th quarter valued at $61,000. 98.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BDC has been the topic of several research reports. The Goldman Sachs Group restated a “buy” rating on shares of Belden in a report on Friday, July 11th. Wall Street Zen downgraded shares of Belden from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 21st. Finally, Benchmark upped their price objective on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $128.20.

Insider Buying and Selling

In other Belden news, SVP Brian Edward Anderson sold 7,158 shares of Belden stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $130.51, for a total transaction of $934,190.58. Following the transaction, the senior vice president directly owned 39,574 shares of the company’s stock, valued at approximately $5,164,802.74. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Leah Tate sold 231 shares of Belden stock in a transaction that occurred 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 transaction, the senior vice president directly owned 30,170 shares in the company, valued at $3,428,518.80. This trade represents a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.48% of the company’s stock.

Belden Stock Performance

NYSE BDC opened at $127.93 on Friday. Belden Inc has a 52-week low of $83.18 and a 52-week high of $131.82. The company has a 50-day simple moving average of $113.98 and a 200 day simple moving average of $109.25. 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 company has a market capitalization of $5.05 billion, a PE ratio of 24.70 and a beta of 1.24.

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

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Thursday, June 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Thursday, June 12th. Belden’s dividend payout ratio is currently 3.86%.

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.