Pzena Investment Management LLC trimmed its stake in Belden Inc. (NYSE:BDC - Free Report) by 88.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,976 shares of the industrial products company's stock after selling 657,044 shares during the period. Pzena Investment Management LLC owned 0.22% of Belden worth $10,187,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its holdings in Belden by 3.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,564 shares of the industrial products company's stock worth $1,090,000 after buying an additional 420 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Belden by 11.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 43,038 shares of the industrial products company's stock valued at $3,984,000 after purchasing an additional 4,319 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Belden in the first quarter worth $256,000. Price T Rowe Associates Inc. MD raised its stake in Belden by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 133,469 shares of the industrial products company's stock valued at $12,361,000 after purchasing an additional 930 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Belden by 1,724.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company's stock valued at $9,651,000 after purchasing an additional 98,503 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Belden news, CAO Doug Zink sold 1,324 shares of the company'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 sale, the chief accounting officer now owns 9,643 shares in the company, valued at approximately $1,132,956.07. This represents a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.59% of the stock is currently owned by corporate insiders.
Belden Stock Performance
Shares of Belden stock traded up $2.53 during midday trading on Thursday, hitting $121.21. The company had a trading volume of 25,488 shares, compared to its average volume of 269,198. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 27.60 and a beta of 1.07. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The company has a fifty day simple moving average of $117.04 and a 200 day simple moving average of $103.55. Belden Inc. has a 12-month low of $65.52 and a 12-month high of $131.82.
Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings data 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. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. During the same period last year, the firm posted $1.78 EPS. Belden's revenue was up 4.5% on a year-over-year basis. As a group, analysts predict that Belden Inc. will post 6.12 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
BDC has been the topic of a number of analyst reports. Benchmark boosted their price objective on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Truist Financial upped their price target on shares of Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $122.75.
Check Out Our Latest Research Report on BDC
Belden Company Profile
(
Free Report)
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.
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