Segall Bryant & Hamill LLC Sells 98,476 Shares of Belden Inc. (NYSE:BDC)

Segall Bryant & Hamill LLC lowered its stake in Belden Inc. (NYSE:BDC - Free Report) by 17.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 476,352 shares of the industrial products company's stock after selling 98,476 shares during the quarter. Belden comprises approximately 0.8% of Segall Bryant & Hamill LLC's investment portfolio, making the stock its 15th biggest holding. Segall Bryant & Hamill LLC owned 1.18% of Belden worth $55,795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its position in Belden by 3.5% during the 1st 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 acquiring an additional 420 shares during the last quarter. Covestor Ltd grew its position in Belden by 33.9% in the first quarter. Covestor Ltd now owns 1,166 shares of the industrial products company's stock valued at $108,000 after purchasing an additional 295 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Belden by 11.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 43,038 shares of the industrial products company's stock valued at $3,984,000 after buying an additional 4,319 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Belden during the 1st quarter worth about $256,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Belden by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 133,469 shares of the industrial products company's stock worth $12,361,000 after buying an additional 930 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Analysts Set New Price Targets

BDC has been the subject of several analyst reports. Benchmark lifted their target price on Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Vertical Research initiated coverage on Belden in a research note on Tuesday, July 23rd. They issued a "buy" rating and a $110.00 price target for the company. Finally, Truist Financial upped their price objective on Belden from $124.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $122.75.

Insider Activity at Belden

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

Belden Stock Performance

Belden stock traded down $0.35 during midday trading on Wednesday, reaching $118.33. 65,486 shares of the company's stock were exchanged, compared to its average volume of 269,785. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. The stock's 50-day simple moving average is $116.65 and its 200 day simple moving average is $103.45. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 27.57 and a beta of 1.07. Belden Inc. has a 52 week low of $65.52 and a 52 week high of $131.82.

Belden (NYSE:BDC - Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping 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 the consensus estimate of $643.63 million. During the same period in the previous year, the company posted $1.78 EPS. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts expect that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. 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.