DekaBank Deutsche Girozentrale Sells 4,465 Shares of Belden Inc. (NYSE:BDC)

DekaBank Deutsche Girozentrale decreased its holdings in Belden Inc. (NYSE:BDC) by 20.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,743 shares of the industrial products company’s stock after selling 4,465 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Belden were worth $1,382,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Point72 Hong Kong Ltd increased its stake in Belden by 88.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after buying an additional 241 shares during the last quarter. IFP Advisors Inc purchased a new stake in Belden in the 2nd quarter valued at about $36,000. NewEdge Advisors LLC increased its stake in Belden by 287.2% in the 1st quarter. NewEdge Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $39,000 after buying an additional 336 shares during the last quarter. Quarry LP increased its stake in Belden by 153.6% in the 1st quarter. Quarry LP now owns 459 shares of the industrial products company’s stock valued at $40,000 after buying an additional 278 shares during the last quarter. Finally, State of Wyoming increased its stake in Belden by 403.4% in the 2nd quarter. State of Wyoming now owns 438 shares of the industrial products company’s stock valued at $42,000 after buying an additional 351 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Belden Trading Down 2.8 %

Shares of BDC stock opened at $85.26 on Monday. The company has a 50 day moving average of $86.45 and a 200-day moving average of $78.89. The company has a quick ratio of 1.72, a current ratio of 2.30 and a debt-to-equity ratio of 1.03. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $99.13. The firm has a market cap of $3.47 billion, a P/E ratio of 15.06 and a beta of 1.04.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, February 8th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.34. Belden had a net margin of 9.66% and a return on equity of 25.11%. The business had revenue of $551.24 million during the quarter, compared to analyst estimates of $522.06 million. During the same period in the previous year, the business earned $1.75 EPS. Belden’s revenue was down 16.4% compared to the same quarter last year. Sell-side analysts anticipate that Belden Inc. will post 5.33 earnings per share for the current year.

Belden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.23%. Belden’s dividend payout ratio is 3.53%.

Insider Activity at Belden

In related news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total value of $169,208.80. Following the completion of the transaction, the executive vice president now directly owns 21,772 shares in the company, valued at approximately $1,791,835.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Truist Financial raised their price target on shares of Belden from $89.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.25.

Belden Company 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.