Belden Inc (NYSE:BDC) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. decreased its stake in shares of Belden Inc (NYSE:BDC) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,683 shares of the industrial products company’s stock after selling 265 shares during the period. Foster & Motley Inc. owned approximately 0.10% of Belden worth $3,978,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. FMR LLC grew its stake in shares of Belden by 5.0% in the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company’s stock worth $530,418,000 after purchasing an additional 223,887 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Belden by 0.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,043,510 shares of the industrial products company’s stock worth $105,478,000 after acquiring an additional 7,683 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Belden by 0.5% during the fourth quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company’s stock valued at $80,154,000 after acquiring an additional 3,692 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Belden by 2.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company’s stock valued at $78,309,000 after acquiring an additional 18,825 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Belden by 10.2% in the 4th quarter. Northern Trust Corp now owns 633,204 shares of the industrial products company’s stock worth $71,305,000 after purchasing an additional 58,508 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Trading Up 0.4%

Shares of NYSE:BDC opened at $130.46 on Wednesday. The firm has a fifty day moving average of $116.25 and a two-hundred day moving average of $109.92. The firm has a market capitalization of $5.15 billion, a P/E ratio of 25.19 and a beta of 1.24. Belden Inc has a 12-month low of $83.18 and a 12-month high of $132.99. The company has a quick ratio of 1.29, a current ratio of 1.93 and a debt-to-equity ratio of 0.96.

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

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Thursday, June 12th. Belden’s dividend payout ratio (DPR) is currently 3.86%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BDC shares. The Goldman Sachs Group restated a “buy” rating on shares of Belden in a report on Friday, July 11th. Wall Street Zen raised Belden from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Benchmark lifted their target price on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $132.75.

Insiders Place Their Bets

In other Belden news, SVP Leah Tate sold 231 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were 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 of the company’s stock, valued at $3,428,518.80. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Brian Edward Anderson sold 7,158 shares of the business’s stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $130.51, for a total transaction of $934,190.58. Following the completion of the sale, the senior vice president directly owned 39,574 shares of the company’s stock, valued at $5,164,802.74. This represents a 15.32% 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 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.