Franklin Resources Inc. Trims Stock Position in Belden Inc. (NYSE:BDC)

Franklin Resources Inc. cut its stake in Belden Inc. (NYSE:BDC - Free Report) by 32.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,358 shares of the industrial products company's stock after selling 8,874 shares during the period. Franklin Resources Inc.'s holdings in Belden were worth $2,238,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Matrix Trust Co purchased a new position in shares of Belden in the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC lifted its position in Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company's stock valued at $33,000 after buying an additional 117 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Belden during the 3rd quarter valued at $33,000. First Horizon Advisors Inc. grew its position in shares of Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company's stock worth $50,000 after buying an additional 209 shares during the period. Finally, KBC Group NV increased its stake in shares of Belden by 27.8% in the 3rd quarter. KBC Group NV now owns 1,261 shares of the industrial products company's stock worth $148,000 after acquiring an additional 274 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

Belden Stock Down 1.7 %

NYSE:BDC traded down $1.91 on Friday, reaching $113.47. 161,297 shares of the stock traded hands, compared to its average volume of 268,515. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 26.39 and a beta of 1.08. Belden Inc. has a 12 month low of $71.20 and a 12 month high of $131.82. The company's fifty day simple moving average is $119.88 and its 200 day simple moving average is $108.30.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $643.63 million. During the same period in the previous year, the business earned $1.78 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts predict that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.18%. Belden's dividend payout ratio (DPR) is presently 4.65%.

Insider Buying and Selling

In other Belden news, CAO Doug Zink sold 3,000 shares of the business's stock in a transaction 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 directly owns 6,643 shares in the company, valued at approximately $855,751.26. The trade was a 31.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

About Belden

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.