Belden Inc. (NYSE:BDC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Belden Inc. (NYSE:BDC - Free Report) by 22.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 187,900 shares of the industrial products company's stock after selling 54,457 shares during the period. New York State Common Retirement Fund owned about 0.46% of Belden worth $22,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BDC. Tidal Investments LLC boosted its stake in shares of Belden by 198.4% in the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company's stock valued at $1,138,000 after purchasing an additional 8,169 shares during the period. First Eagle Investment Management LLC boosted its position in Belden by 8.0% in the 1st quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company's stock valued at $9,195,000 after buying an additional 7,340 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of Belden by 1,724.8% in the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company's stock worth $9,651,000 after acquiring an additional 98,503 shares in the last quarter. AdvisorShares Investments LLC acquired a new stake in shares of Belden in the second quarter valued at $503,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Belden by 3.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company's stock valued at $2,816,000 after purchasing an additional 980 shares during the period. Hedge funds and other institutional investors own 98.75% of the company's stock.

Belden Stock Performance

BDC traded up $2.33 on Tuesday, reaching $118.50. The company had a trading volume of 231,783 shares, compared to its average volume of 271,889. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. Belden Inc. has a 1 year low of $63.00 and a 1 year high of $123.03. The stock has a market capitalization of $4.78 billion, a PE ratio of 27.19 and a beta of 1.07. The stock has a 50-day moving average price of $112.40 and a 200-day moving average price of $100.43.

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, 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 business had revenue of $654.90 million for the quarter, compared to analyst estimates of $643.63 million. During the same period in the previous year, the business posted $1.78 earnings per share. The business's revenue was up 4.5% compared to the same quarter last year. As a group, research analysts forecast that Belden Inc. will post 6.12 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden's dividend payout ratio is presently 4.65%.

Insider Activity at Belden

In other news, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares of the company's stock, valued at $3,298,001.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.59% of the company's stock.

Analyst Ratings Changes

BDC has been the topic of several recent research reports. Benchmark upped their price target on Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Friday. Vertical Research initiated coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a "buy" rating and a $110.00 target price on the stock. Finally, 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 research note on Friday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden presently has an average rating of "Buy" and an average price target of $122.75.

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.