Teacher Retirement System of Texas Increases Stock Position in Belden Inc. (NYSE:BDC)

Teacher Retirement System of Texas increased its stake in shares of Belden Inc. (NYSE:BDC - Free Report) by 58.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,518 shares of the industrial products company's stock after purchasing an additional 13,471 shares during the period. Teacher Retirement System of Texas owned approximately 0.09% of Belden worth $4,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its holdings in Belden by 14.8% during the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company's stock valued at $525,485,000 after buying an additional 576,768 shares in the last quarter. State Street Corp raised its holdings in shares of Belden by 6.8% in the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company's stock valued at $184,532,000 after purchasing an additional 100,145 shares in the last quarter. Great Lakes Advisors LLC boosted its holdings in shares of Belden by 169.6% in the 4th quarter. Great Lakes Advisors LLC now owns 146,317 shares of the industrial products company's stock valued at $16,477,000 after buying an additional 92,037 shares in the last quarter. Boston Partners lifted its holdings in shares of Belden by 43.1% during the 4th quarter. Boston Partners now owns 230,170 shares of the industrial products company's stock valued at $26,387,000 after purchasing an additional 69,365 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in Belden by 10.6% in the third quarter. Lord Abbett & CO. LLC now owns 708,092 shares of the industrial products company's stock valued at $82,939,000 after buying an additional 68,151 shares during the last quarter. 98.75% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other news, SVP Leah Tate sold 2,400 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $114.77, for a total value of $275,448.00. Following the transaction, the senior vice president now owns 23,243 shares of the company's stock, valued at approximately $2,667,599.11. The trade was a 9.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ashish Chand sold 14,535 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $111.45, for a total value of $1,619,925.75. Following the sale, the chief executive officer now directly owns 107,129 shares of the company's stock, valued at approximately $11,939,527.05. This represents a 11.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,428 shares of company stock valued at $2,589,774. 1.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BDC. Benchmark reissued a "buy" rating and issued a $130.00 target price on shares of Belden in a research report on Monday, February 10th. StockNews.com raised shares of Belden from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 10th. Finally, Loop Capital reduced their price target on shares of Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $130.25.

Belden Trading Down 3.3 %

NYSE:BDC traded down $3.43 during trading hours on Friday, reaching $100.88. 327,705 shares of the stock were exchanged, compared to its average volume of 268,461. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 20.97 and a beta of 1.02. Belden Inc. has a twelve month low of $80.90 and a twelve month high of $131.82. The business has a 50-day moving average of $110.57 and a two-hundred day moving average of $114.76.

Belden (NYSE:BDC - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. On average, equities analysts predict that Belden Inc. will post 7.07 EPS for the current year.

Belden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 13th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.20%. Belden's payout ratio is currently 4.16%.

About Belden

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.