State of Alaska Department of Revenue Grows Stake in Belden Inc. (NYSE:BDC)

State of Alaska Department of Revenue grew its stake in shares of Belden Inc. (NYSE:BDC) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,742 shares of the industrial products company’s stock after acquiring an additional 215 shares during the quarter. State of Alaska Department of Revenue owned about 0.09% of Belden worth $4,068,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. F M Investments LLC bought a new position in shares of Belden in the second quarter worth approximately $12,659,000. Public Employees Retirement Association of Colorado lifted its position in Belden by 1,724.8% in 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 in the last quarter. International Assets Investment Management LLC bought a new position in Belden in the 3rd quarter valued at approximately $82,320,000. Renaissance Technologies LLC boosted its stake in Belden by 15.8% during the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock valued at $29,365,000 after purchasing an additional 42,600 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of Belden by 15.7% in the 1st quarter. Retirement Systems of Alabama now owns 244,364 shares of the industrial products company’s stock worth $22,631,000 after purchasing an additional 33,160 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other Belden news, Director Nancy E. Calderon sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares in the company, valued at $667,444.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction dated 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 owns 32,829 shares in the company, valued at $3,298,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was 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 in the company, valued at $667,444.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,318 shares of company stock valued at $1,020,715 over the last ninety days. 1.59% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BDC has been the topic of a number of research analyst reports. Benchmark upped their price target on Belden from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Vertical Research initiated coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price on the stock. Finally, Truist Financial lifted their price target on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden currently has an average rating of “Buy” and a consensus price target of $112.00.

Belden Price Performance

NYSE BDC opened at $118.97 on Wednesday. The company has a 50-day moving average price of $111.59 and a 200-day moving average price of $99.52. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $123.03. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4.84 billion, a P/E ratio of 23.28 and a beta of 1.07.

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

Belden Dividend Announcement

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 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s payout ratio is 3.91%.

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.