Retirement Systems of Alabama Sells 32,712 Shares of Belden Inc. (NYSE:BDC)

Retirement Systems of Alabama decreased its position in Belden Inc. (NYSE:BDC - Free Report) by 13.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,861 shares of the industrial products company's stock after selling 32,712 shares during the quarter. Retirement Systems of Alabama owned 0.54% of Belden worth $25,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of BDC. Peapack Gladstone Financial Corp purchased a new stake in Belden during the third quarter valued at about $243,000. Tidal Investments LLC lifted its stake in shares of Belden by 5.1% in the 3rd quarter. Tidal Investments LLC now owns 8,742 shares of the industrial products company's stock valued at $1,024,000 after acquiring an additional 426 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Belden by 72.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company's stock valued at $167,000 after acquiring an additional 599 shares during the period. Geode Capital Management LLC grew its position in Belden by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company's stock worth $112,580,000 after acquiring an additional 5,727 shares during the last quarter. Finally, Barclays PLC increased its stake in Belden by 189.4% in the 3rd quarter. Barclays PLC now owns 80,132 shares of the industrial products company's stock worth $9,386,000 after purchasing an additional 52,439 shares during the period. Hedge funds and other institutional investors own 98.75% of the company's stock.

Insiders Place Their Bets

In related news, CAO Doug Zink sold 3,000 shares of Belden stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,643 shares of the company's stock, valued at $855,751.26. This trade represents a 31.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.59% of the company's stock.

Analyst Ratings Changes

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

Belden Trading Down 1.5 %

Shares of BDC traded down $1.84 during mid-day trading on Friday, hitting $121.00. 246,691 shares of the company's stock traded hands, compared to its average volume of 266,878. 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 firm has a market capitalization of $4.88 billion, a P/E ratio of 28.14 and a beta of 1.08. The business's 50-day moving average price is $120.64 and its 200-day moving average price is $106.96. Belden Inc. has a 1 year low of $71.20 and a 1 year high of $131.82.

Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings data 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. 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 the consensus estimate of $643.63 million. During the same period in the previous year, the firm earned $1.78 EPS. The company's quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side 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 will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden's payout ratio is 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.