Covestor Ltd Lowers Stock Position in Belden Inc. (NYSE:BDC)

Covestor Ltd decreased its position in Belden Inc. (NYSE:BDC) by 16.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 865 shares of the industrial products company’s stock after selling 171 shares during the period. Covestor Ltd’s holdings in Belden were worth $101,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Belden by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock valued at $406,000 after buying an additional 148 shares in the last quarter. US Bancorp DE lifted its position in shares of Belden by 7.4% during the 3rd quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock valued at $327,000 after buying an additional 193 shares in the last quarter. Matrix Trust Co purchased a new stake in Belden in the 3rd quarter worth $25,000. Finally, State of Alaska Department of Revenue raised its position in Belden by 0.6% during the third quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company’s stock worth $4,068,000 after acquiring an additional 215 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Vertical Research assumed coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. Benchmark increased their target price on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Truist Financial lifted their price target on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden presently has a consensus rating of “Buy” and a consensus price target of $122.75.

Belden Trading Down 2.2 %

BDC opened at $123.84 on Wednesday. The firm has a market capitalization of $5.00 billion, a price-to-earnings ratio of 28.80 and a beta of 1.07. The company’s 50 day simple moving average is $114.77 and its two-hundred day simple moving average is $102.23. Belden Inc. has a 1-year low of $64.13 and a 1-year high of $131.82. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

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

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Insider Buying and Selling at Belden

In other news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the sale, the chief accounting officer now owns 6,643 shares in the company, valued at $855,751.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Doug Zink sold 3,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,643 shares in the company, valued at approximately $855,751.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares in the company, valued at approximately $3,298,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,880 shares of company stock worth $1,200,633 in the last ninety days. 1.59% of the stock is owned by insiders.

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.