Retirement Systems of Alabama Decreases Stock Holdings in Belden Inc. (NYSE:BDC)

Retirement Systems of Alabama lowered its stake in shares of Belden Inc. (NYSE:BDC) by 13.1% during the third quarter, Holdings Channel.com reports. The firm owned 216,861 shares of the industrial products company’s stock after selling 32,712 shares during the quarter. Retirement Systems of Alabama’s holdings in Belden were worth $25,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Matrix Trust Co purchased a new stake in shares of Belden during the third quarter valued at about $25,000. GAMMA Investing LLC lifted its position in Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 117 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Belden in the third quarter valued at approximately $33,000. First Horizon Advisors Inc. grew its holdings in Belden by 97.7% in the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 209 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Belden during the second quarter worth $95,000. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other Belden news, CAO Doug Zink sold 1,324 shares of Belden stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the completion of the transaction, the chief accounting officer now owns 9,643 shares in the company, valued at approximately $1,132,956.07. This trade represents a 12.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Truist Financial raised their price objective on Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Benchmark increased their price target on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $122.75.

Belden Trading Down 1.5 %

NYSE:BDC opened at $121.00 on Friday. The company has a market capitalization of $4.88 billion, a P/E ratio of 28.14 and a beta of 1.08. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. Belden Inc. has a 12 month low of $71.20 and a 12 month high of $131.82. The firm has a fifty day simple moving average of $120.64 and a 200-day simple moving average of $106.89.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $643.63 million. During the same quarter in the previous year, the firm posted $1.78 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The firm also recently declared 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, December 12th. Belden’s dividend payout ratio is presently 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.