Ceredex Value Advisors LLC Reduces Stake in Belden Inc. (NYSE:BDC)

Ceredex Value Advisors LLC trimmed its position in Belden Inc. (NYSE:BDC - Free Report) by 41.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,171 shares of the industrial products company's stock after selling 67,200 shares during the quarter. Ceredex Value Advisors LLC owned 0.23% of Belden worth $11,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 117 shares during the last quarter. US Bancorp DE increased its holdings in Belden by 7.4% during the 3rd quarter. US Bancorp DE now owns 2,794 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 193 shares during the period. State of Michigan Retirement System raised its position in Belden by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 10,198 shares of the industrial products company's stock valued at $944,000 after purchasing an additional 200 shares during the last quarter. Matrix Trust Co purchased a new stake in Belden in the 3rd quarter worth approximately $25,000. Finally, State of Alaska Department of Revenue grew its position in shares of Belden by 0.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company's stock worth $4,068,000 after buying an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company's stock.

Wall Street Analysts Forecast Growth

BDC has been the subject of a number of research analyst reports. Benchmark raised their price target on Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday. Truist Financial raised their target price on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Vertical Research assumed coverage on shares of Belden in a research report on Tuesday, July 23rd. They set a "buy" rating and a $110.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden currently has a consensus rating of "Buy" and a consensus target price of $116.40.

Insider Activity at Belden

In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of the business's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total value of $122,148.98. Following the sale, the senior vice president now directly owns 39,385 shares of the company's stock, valued at approximately $3,812,074.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian Edward Anderson sold 1,262 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now owns 39,385 shares of the company's stock, valued at approximately $3,812,074.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,318 shares of company stock valued at $1,020,715 in the last 90 days. Corporate insiders own 1.59% of the company's stock.

Belden Stock Up 1.2 %

Belden stock traded up $1.37 on Friday, hitting $115.24. 353,767 shares of the stock traded hands, compared to its average volume of 258,750. Belden Inc. has a 1 year low of $60.54 and a 1 year high of $123.03. The firm has a market cap of $4.70 billion, a P/E ratio of 26.80 and a beta of 1.07. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.99. The business's fifty day simple moving average is $112.21 and its 200 day simple moving average is $100.07.

Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.09. The company had revenue of $654.90 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the company posted $1.78 EPS. As a group, sell-side analysts forecast that Belden Inc. will post 6.04 earnings per share for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were paid a $0.05 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden's payout ratio is currently 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.