Mutual of America Capital Management LLC Has $2.08 Million Stock Position in Belden Inc (NYSE:BDC)

Mutual of America Capital Management LLC reduced its position in shares of Belden Inc (NYSE:BDC) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,725 shares of the industrial products company’s stock after selling 583 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Belden worth $2,078,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BDC. Aster Capital Management DIFC Ltd purchased a new stake in shares of Belden in the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Belden in the first quarter worth approximately $35,000. Quarry LP raised its stake in shares of Belden by 208.7% in the fourth quarter. Quarry LP now owns 392 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 265 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Belden by 34.7% in the first 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 bought a new position in shares of Belden in the fourth quarter valued at approximately $61,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Belden Trading Down 2.2%

NYSE BDC opened at $127.93 on Friday. The stock’s 50-day simple moving average is $113.98 and its two-hundred day simple moving average is $109.25. Belden Inc has a twelve month low of $83.18 and a twelve month high of $131.82. The company has a quick ratio of 1.29, a current ratio of 1.93 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 24.70 and a beta of 1.24.

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

Belden Dividend Announcement

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

Wall Street Analyst Weigh In

BDC has been the subject of several research reports. Wall Street Zen lowered Belden from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 21st. The Goldman Sachs Group reissued a “buy” rating on shares of Belden in a report on Friday, July 11th. Finally, Benchmark increased 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $128.20.

Insider Activity

In related news, SVP Brian Edward Anderson sold 7,158 shares of the firm’s stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $130.51, for a total value of $934,190.58. Following the sale, the senior vice president directly owned 39,574 shares of the company’s stock, valued at $5,164,802.74. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Leah Tate sold 231 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total value of $26,250.84. Following the completion of the sale, the senior vice president directly owned 30,170 shares in the company, valued at $3,428,518.80. The trade was a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.48% of the stock is currently owned by insiders.

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.