Belden Inc. (NYSE:BDC) Stock Position Reduced by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Belden Inc. (NYSE:BDC - Free Report) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 492,345 shares of the industrial products company's stock after selling 5,722 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.22% of Belden worth $57,668,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Matrix Trust Co acquired a new stake in Belden in the 3rd quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Belden in the second quarter valued at approximately $28,000. GAMMA Investing LLC increased its stake in shares of Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company's stock worth $33,000 after purchasing an additional 117 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Belden during the 3rd quarter worth approximately $33,000. Finally, First Horizon Advisors Inc. lifted its stake in Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company's stock valued at $50,000 after buying an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BDC shares. Benchmark lifted their price objective on Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Truist Financial lifted their price target on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden currently has an average rating of "Buy" and a consensus target price of $122.75.

Insider Buying and Selling

In other news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total value of $155,556.76. Following the transaction, the chief accounting officer now directly owns 9,643 shares of the company's stock, valued at $1,132,956.07. This trade represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.59% of the stock is currently owned by insiders.

Belden Stock Performance

Shares of NYSE BDC traded up $0.53 during midday trading on Friday, hitting $122.40. The company's stock had a trading volume of 131,964 shares, compared to its average volume of 269,032. The firm has a market cap of $4.94 billion, a P/E ratio of 28.47 and a beta of 1.07. Belden Inc. has a 1-year low of $65.64 and a 1-year high of $131.82. The firm's fifty day moving average price is $119.37 and its 200-day moving average price is $105.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The company had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, December 12th. Belden's dividend payout ratio is presently 4.65%.

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.