Southernsun Asset Management LLC decreased its position in shares of Belden Inc. (NYSE:BDC - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 474,294 shares of the industrial products company's stock after selling 41,427 shares during the quarter. Belden comprises 6.6% of Southernsun Asset Management LLC's holdings, making the stock its 2nd largest holding. Southernsun Asset Management LLC owned 1.18% of Belden worth $55,554,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock valued at $525,485,000 after purchasing an additional 576,768 shares during the period. F M Investments LLC purchased a new stake in Belden during the second quarter valued at about $12,659,000. Foundry Partners LLC purchased a new position in Belden in the 3rd quarter valued at approximately $11,814,000. State Street Corp lifted its position in shares of Belden by 6.8% during the third quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock worth $184,532,000 after acquiring an additional 100,145 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Belden in the 3rd quarter valued at $82,320,000. Institutional investors and hedge funds own 98.75% of the company's stock.
Insiders Place Their Bets
In other news, CAO Doug Zink sold 3,000 shares of Belden stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now owns 6,643 shares in the company, valued at $855,751.26. The trade was a 31.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.59% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on BDC. Benchmark raised their price objective on Belden from $120.00 to $130.00 and gave the company a "buy" rating in a research note 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 research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $122.75.
Read Our Latest Research Report on Belden
Belden Trading Down 0.2 %
BDC stock traded down $0.24 during midday trading on Friday, reaching $121.91. The company's stock had a trading volume of 35,432 shares, compared to its average volume of 266,547. 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 firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 28.46 and a beta of 1.08. The stock has a fifty day simple moving average of $119.97 and a two-hundred day simple moving average of $105.82. Belden Inc. has a 1 year low of $69.33 and a 1 year high of $131.82.
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 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 business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same quarter last year, the company earned $1.78 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts predict that Belden Inc. will post 6.12 EPS for the current year.
Belden Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.16%. The ex-dividend date is Thursday, December 12th. Belden's payout ratio is 4.65%.
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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