Belden Inc. (NYSE:BDC) Shares Bought by State Street Corp

State Street Corp boosted its stake in Belden Inc. (NYSE:BDC - Free Report) by 6.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,574,784 shares of the industrial products company's stock after acquiring an additional 100,145 shares during the period. State Street Corp owned 3.90% of Belden worth $184,532,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BDC. Dynamic Advisor Solutions LLC bought a new stake in Belden in the second quarter valued at about $371,000. Blue Trust Inc. boosted its holdings in Belden by 666.9% in the second quarter. Blue Trust Inc. now owns 5,506 shares of the industrial products company's stock worth $510,000 after purchasing an additional 4,788 shares during the period. Leeward Investments LLC MA increased its stake in Belden by 5.6% during the second quarter. Leeward Investments LLC MA now owns 73,160 shares of the industrial products company's stock valued at $6,862,000 after purchasing an additional 3,905 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Belden by 3.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 30,022 shares of the industrial products company's stock worth $2,816,000 after purchasing an additional 980 shares during the period. Finally, Retirement Systems of Alabama lifted its position in shares of Belden by 2.1% in the 2nd quarter. Retirement Systems of Alabama now owns 249,573 shares of the industrial products company's stock worth $23,410,000 after buying an additional 5,209 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors.

Insider Activity at Belden

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 completion of the sale, the chief accounting officer now directly owns 9,643 shares in the company, valued at $1,132,956.07. This represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.59% of the company's stock.

Belden Stock Performance

Belden stock traded down $1.84 during midday trading on Friday, reaching $121.00. 246,668 shares of the stock traded hands, compared to its average volume of 266,878. Belden Inc. has a fifty-two week low of $71.20 and a fifty-two week high of $131.82. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 28.14 and a beta of 1.08. The firm has a fifty day moving average price of $120.64 and a two-hundred day moving average price of $106.89.

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, 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 period in the previous year, the firm posted $1.78 earnings per share. The business's revenue was up 4.5% on a year-over-year basis. On average, equities research analysts forecast that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Thursday, December 12th. Belden's dividend payout ratio (DPR) is 4.65%.

Analyst Ratings Changes

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

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.