Hotchkis & Wiley Capital Management LLC Sells 6,880 Shares of Belden Inc. (NYSE:BDC)

Hotchkis & Wiley Capital Management LLC cut its holdings in Belden Inc. (NYSE:BDC - Free Report) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 541,695 shares of the industrial products company's stock after selling 6,880 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 1.34% of Belden worth $63,449,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Belden by 14.8% in the third quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock valued at $525,485,000 after acquiring an additional 576,768 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Belden by 15.8% during the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company's stock worth $29,365,000 after purchasing an additional 42,600 shares during the period. Retirement Systems of Alabama raised its position in shares of Belden by 2.1% during the second quarter. Retirement Systems of Alabama now owns 249,573 shares of the industrial products company's stock valued at $23,410,000 after buying an additional 5,209 shares during the last quarter. Waters Parkerson & CO. LLC lifted its stake in shares of Belden by 2.2% in the second quarter. Waters Parkerson & CO. LLC now owns 214,322 shares of the industrial products company's stock valued at $20,103,000 after buying an additional 4,636 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in Belden by 60.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 167,430 shares of the industrial products company's stock valued at $15,705,000 after acquiring an additional 63,216 shares during the period. 98.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BDC has been the topic of a number of research reports. Benchmark boosted their price objective on Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Truist Financial increased their price objective on shares of Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $122.75.

Belden Stock Performance

BDC traded down $1.18 during trading hours on Tuesday, reaching $122.73. The company's stock had a trading volume of 137,517 shares, compared to its average volume of 217,993. The firm has a market cap of $4.95 billion, a PE ratio of 28.54 and a beta of 1.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The company's 50-day moving average is $119.57 and its 200-day moving average is $105.38. Belden Inc. has a 52 week low of $67.46 and a 52 week high of $131.82.

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

Belden Announces Dividend

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

Insider Transactions at Belden

In other Belden news, CAO Doug Zink sold 3,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was 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 $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.59% of the stock is currently owned by insiders.

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.