Oregon Public Employees Retirement Fund Cuts Position in Belden Inc. (NYSE:BDC)

Oregon Public Employees Retirement Fund cut its stake in Belden Inc. (NYSE:BDCGet Rating) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,711 shares of the industrial products company’s stock after selling 176 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Belden were worth $763,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BDC. Point72 Hong Kong Ltd lifted its stake in Belden by 88.0% in the first quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 241 shares during the last quarter. Pinebridge Investments L.P. lifted its stake in Belden by 483.0% in the second quarter. Pinebridge Investments L.P. now owns 583 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 483 shares during the last quarter. USA Financial Portformulas Corp bought a new stake in Belden in the third quarter worth $32,000. Meeder Asset Management Inc. lifted its stake in Belden by 2,935.1% in the second quarter. Meeder Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Eagle Bay Advisors LLC lifted its stake in Belden by 116.5% in the second quarter. Eagle Bay Advisors LLC now owns 1,518 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 817 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Belden news, Director Jonathan C. Klein sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $79.82, for a total value of $79,820.00. Following the sale, the director now owns 14,053 shares in the company, valued at $1,121,710.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.06% of the company’s stock.

Belden Price Performance

BDC stock opened at $79.10 on Wednesday. Belden Inc. has a 1 year low of $47.89 and a 1 year high of $82.83. The company has a market cap of $3.39 billion, a P/E ratio of 24.57 and a beta of 1.35. The firm has a 50-day moving average of $76.94 and a 200 day moving average of $69.73. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.54 and a quick ratio of 1.89.

Belden (NYSE:BDCGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The industrial products company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.20. The business had revenue of $670.49 million for the quarter, compared to analysts’ expectations of $634.29 million. Belden had a net margin of 5.53% and a return on equity of 26.35%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 earnings per share. On average, sell-side analysts forecast that Belden Inc. will post 6.33 EPS for the current year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Thursday, December 15th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Wednesday, December 14th. Belden’s dividend payout ratio (DPR) is presently 6.21%.

Analysts Set New Price Targets

Several analysts have weighed in on BDC shares. Truist Financial boosted their price target on shares of Belden from $77.00 to $82.00 in a research note on Thursday, November 3rd. Jefferies Financial Group started coverage on shares of Belden in a research note on Tuesday, November 22nd. They set a “hold” rating and a $86.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of Belden from $67.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, November 3rd. Finally, StockNews.com started coverage on shares of Belden in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Belden currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

About Belden

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Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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