State of Alaska Department of Revenue Raises Position in Belden Inc. (NYSE:BDC)

State of Alaska Department of Revenue lifted its stake in Belden Inc. (NYSE:BDC) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,742 shares of the industrial products company’s stock after purchasing an additional 215 shares during the quarter. State of Alaska Department of Revenue’s holdings in Belden were worth $4,068,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Tidal Investments LLC raised its position in Belden by 198.4% in the 1st quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock worth $1,138,000 after purchasing an additional 8,169 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of Belden by 8.0% in the first quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company’s stock worth $9,195,000 after buying an additional 7,340 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Belden by 1,724.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock valued at $9,651,000 after acquiring an additional 98,503 shares during the period. AdvisorShares Investments LLC bought a new position in Belden in the 2nd quarter valued at $503,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Belden by 3.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company’s stock worth $2,816,000 after purchasing an additional 980 shares during the period. Institutional investors own 98.75% of the company’s stock.

Belden Trading Up 0.4 %

NYSE:BDC opened at $118.97 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.25 and a current ratio of 1.70. The firm has a 50-day simple moving average of $111.59 and a 200-day simple moving average of $99.52. Belden Inc. has a one year low of $60.54 and a one year high of $123.03. The firm has a market cap of $4.84 billion, a P/E ratio of 23.28 and a beta of 1.07.

Belden (NYSE:BDC) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. Belden had a return on equity of 21.13% and a net margin of 8.51%. The company had revenue of $604.34 million during the quarter, compared to analyst estimates of $574.32 million. During the same quarter in the prior year, the business earned $1.91 earnings per share. Belden’s revenue was down 12.7% on a year-over-year basis. Equities analysts anticipate that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Insiders Place Their Bets

In other news, Director Nancy E. Calderon sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the sale, the director now directly owns 6,954 shares in the company, valued at approximately $667,444.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the sale, the director now owns 6,954 shares of the company’s stock, valued at $667,444.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at $3,298,001.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,318 shares of company stock worth $1,020,715. 1.59% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on BDC shares. Benchmark boosted their target price on shares of Belden from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Vertical Research assumed coverage on shares of Belden in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective for the company. Finally, Truist Financial raised their target price on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $112.00.

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.