Jane Street Group LLC Lowers Holdings in Belden Inc. (NYSE:BDC)

Jane Street Group LLC cut its position in Belden Inc. (NYSE:BDC - Free Report) by 72.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,229 shares of the industrial products company's stock after selling 60,271 shares during the quarter. Jane Street Group LLC owned about 0.06% of Belden worth $2,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Matrix Trust Co purchased a new position in shares of Belden during the third quarter worth about $25,000. GAMMA Investing LLC grew its stake in Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company's stock worth $33,000 after buying an additional 117 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Belden in the 3rd quarter worth $33,000. First Horizon Advisors Inc. raised its position in shares of Belden by 97.7% during 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. Finally, Innealta Capital LLC bought a new stake in shares of Belden during the 2nd quarter worth $95,000. 98.75% of the stock is owned by institutional investors.

Belden Trading Down 0.8 %

NYSE BDC traded down $0.87 during trading on Friday, hitting $113.74. 1,023,907 shares of the company's stock traded hands, compared to its average volume of 270,272. The stock has a fifty day moving average of $120.51 and a two-hundred day moving average of $107.73. Belden Inc. has a 12-month low of $71.20 and a 12-month high of $131.82. The firm has a market cap of $4.59 billion, a P/E ratio of 26.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43.

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

Belden Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial raised their price target on Belden from $124.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Benchmark raised their price objective on Belden from $120.00 to $130.00 and gave the company a "buy" rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $122.75.

Insider Activity at Belden

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