Belden Inc $BDC Holdings Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in Belden Inc (NYSE:BDC) by 31.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,163 shares of the industrial products company’s stock after selling 57,208 shares during the quarter. New York State Common Retirement Fund owned approximately 0.32% of Belden worth $15,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of Belden by 9.6% in the first quarter. Millennium Management LLC now owns 78,865 shares of the industrial products company’s stock worth $7,906,000 after acquiring an additional 6,894 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Belden in the 1st quarter valued at approximately $264,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Belden by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,807 shares of the industrial products company’s stock worth $13,214,000 after purchasing an additional 10,077 shares during the period. Jane Street Group LLC grew its position in Belden by 18.3% during the 1st quarter. Jane Street Group LLC now owns 58,028 shares of the industrial products company’s stock worth $5,817,000 after purchasing an additional 8,961 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Belden by 273.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,984 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 2,918 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

Shares of BDC opened at $117.47 on Monday. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 20.86 and a beta of 1.20. The company’s fifty day moving average is $117.76 and its 200-day moving average is $120.60. 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 Inc has a 12 month low of $83.18 and a 12 month high of $133.77.

Belden (NYSE:BDC) last issued its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. Belden had a net margin of 8.57% and a return on equity of 23.95%. The firm had revenue of $698.22 million during the quarter, compared to analysts’ expectations of $679.61 million. During the same period in the prior year, the company posted $1.70 earnings per share. Belden’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts expect that Belden Inc will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on BDC shares. Wall Street Zen raised Belden from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Belden in a research report on Wednesday, January 21st. Finally, Truist Financial upped their target price on Belden from $149.00 to $150.00 and gave the company a “buy” rating in a report on Friday, December 19th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Belden presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Insider Buying and Selling

In other Belden news, SVP Leah Tate sold 2,554 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $120.00, for a total transaction of $306,480.00. Following the transaction, the senior vice president owned 27,835 shares in the company, valued at $3,340,200. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Doug Zink sold 4,000 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $125.00, for a total transaction of $500,000.00. Following the sale, the chief accounting officer directly owned 4,642 shares of the company’s stock, valued at approximately $580,250. This represents a 46.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,154 shares of company stock worth $1,371,050 over the last ninety days. Company insiders own 1.48% of the company’s stock.

Belden 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.