Belden Inc. (NYSE:BDC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in Belden Inc. (NYSE:BDC) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,054 shares of the industrial products company’s stock after selling 1,237 shares during the period. Mutual of America Capital Management LLC’s holdings in Belden were worth $2,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its stake in Belden by 11.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 43,038 shares of the industrial products company’s stock valued at $3,984,000 after buying an additional 4,319 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Belden during the 1st quarter worth about $256,000. Price T Rowe Associates Inc. MD lifted its stake in Belden by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 133,469 shares of the industrial products company’s stock worth $12,361,000 after purchasing an additional 930 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Belden by 1,724.8% in the first 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 purchasing an additional 98,503 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Belden by 20.4% in the first quarter. Janus Henderson Group PLC now owns 24,110 shares of the industrial products company’s stock valued at $2,231,000 after purchasing an additional 4,093 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Belden Trading Up 2.4 %

NYSE BDC opened at $123.52 on Friday. The firm’s fifty day moving average is $117.84 and its two-hundred day moving average is $104.02. Belden Inc. has a one year low of $65.52 and a one year high of $131.82. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The firm has a market cap of $4.98 billion, a PE ratio of 28.73 and a beta of 1.07.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The firm had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same period in the prior year, the business earned $1.78 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.16%. Belden’s dividend payout ratio is currently 4.65%.

Insiders Place Their Bets

In other news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.59% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BDC has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark upped their target price on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Belden currently has a consensus rating of “Buy” and an average target price of $122.75.

About Belden

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.