Teacher Retirement System of Texas Sells 4,739 Shares of Belden Inc $BDC

Teacher Retirement System of Texas cut its stake in shares of Belden Inc (NYSE:BDC) by 20.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,053 shares of the industrial products company’s stock after selling 4,739 shares during the quarter. Teacher Retirement System of Texas’ holdings in Belden were worth $2,171,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Strs Ohio lifted its position in Belden by 380.2% during the 3rd quarter. Strs Ohio now owns 41,300 shares of the industrial products company’s stock worth $4,967,000 after buying an additional 32,700 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in shares of Belden by 4.2% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 49,621 shares of the industrial products company’s stock valued at $5,968,000 after purchasing an additional 2,016 shares during the period. Verdence Capital Advisors LLC grew its position in shares of Belden by 3.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,385 shares of the industrial products company’s stock worth $515,000 after buying an additional 162 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Belden by 6.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,795 shares of the industrial products company’s stock valued at $323,000 after purchasing an additional 162 shares in the last quarter. Finally, Waters Parkerson & CO. LLC lifted its holdings in Belden by 0.8% during the third quarter. Waters Parkerson & CO. LLC now owns 225,595 shares of the industrial products company’s stock worth $27,132,000 after acquiring an additional 1,847 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Belden Trading Down 1.9%

NYSE BDC opened at $117.47 on Friday. Belden Inc has a 52 week low of $83.18 and a 52 week high of $133.77. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 20.86 and a beta of 1.17. The business has a 50 day moving average price of $117.76 and a 200-day moving average price of $120.64. The company has a quick ratio of 1.37, a current ratio of 1.99 and a debt-to-equity ratio of 1.03.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, October 30th. The industrial products company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. The business had revenue of $698.22 million for the quarter, compared to analysts’ expectations of $679.61 million. Belden had a net margin of 8.57% and a return on equity of 23.95%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.70 earnings per share. As a group, equities analysts expect that Belden Inc will post 7.07 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Thursday, December 11th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, December 11th. Belden’s dividend payout ratio is 3.55%.

Insiders Place Their Bets

In other news, SVP Leah Tate sold 2,554 shares of Belden stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $120.00, for a total transaction of $306,480.00. Following the completion of the sale, the senior vice president owned 27,835 shares in the company, valued at approximately $3,340,200. This trade represents a 8.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan C. Klein sold 3,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $124.19, for a total value of $372,570.00. Following the transaction, the director owned 8,353 shares in the company, valued at $1,037,359.07. This trade represents a 26.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,154 shares of company stock worth $1,371,050 over the last three months. Corporate insiders own 1.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BDC shares. Truist Financial lifted their target price on Belden from $149.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Wall Street Zen upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Belden in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Belden Company Profile

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.