State of New Jersey Common Pension Fund D Boosts Stock Holdings in Belden Inc. (NYSE:BDC)

State of New Jersey Common Pension Fund D boosted its stake in shares of Belden Inc. (NYSE:BDCGet Rating) by 12.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 46,982 shares of the industrial products company’s stock after buying an additional 5,112 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Belden were worth $2,603,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. State of Michigan Retirement System grew its stake in shares of Belden by 1.8% in the 4th quarter. State of Michigan Retirement System now owns 11,414 shares of the industrial products company’s stock worth $750,000 after buying an additional 200 shares in the last quarter. Yousif Capital Management LLC purchased a new position in shares of Belden in the 4th quarter worth $1,535,000. Qube Research & Technologies Ltd purchased a new position in shares of Belden in the 4th quarter worth $1,330,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Belden by 30.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,070 shares of the industrial products company’s stock worth $399,000 after buying an additional 1,410 shares in the last quarter. Finally, Oak Family Advisors LLC grew its stake in shares of Belden by 60.1% in the 4th quarter. Oak Family Advisors LLC now owns 16,526 shares of the industrial products company’s stock worth $1,086,000 after buying an additional 6,205 shares in the last quarter. 99.58% of the stock is owned by hedge funds and other institutional investors.

Belden Trading Up 0.7 %

Shares of BDC opened at $64.72 on Monday. Belden Inc. has a 1-year low of $47.89 and a 1-year high of $68.87. The company has a 50-day moving average of $56.31 and a 200 day moving average of $55.62. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 41.49 and a beta of 1.29. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.39 and a quick ratio of 1.71.

Belden (NYSE:BDCGet Rating) last posted its earnings results on Wednesday, May 4th. The industrial products company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.22. The business had revenue of $610.40 million for the quarter, compared to the consensus estimate of $572.62 million. Belden had a net margin of 2.86% and a return on equity of 25.14%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. On average, research analysts expect that Belden Inc. will post 5.75 EPS for the current year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 7th. Shareholders of record on Thursday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Wednesday, June 15th. Belden’s dividend payout ratio (DPR) is 12.82%.

Insider Buying and Selling at Belden

In other Belden news, EVP Ashish Chand bought 9,949 shares of the business’s stock in a transaction on Friday, June 17th. The shares were acquired at an average price of $50.36 per share, with a total value of $501,031.64. Following the transaction, the executive vice president now owns 55,772 shares of the company’s stock, valued at approximately $2,808,677.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

BDC has been the subject of a number of recent research reports. Truist Financial dropped their price objective on shares of Belden from $86.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, April 8th. Canaccord Genuity Group raised their target price on shares of Belden from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, May 5th. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 21st. TheStreet upgraded shares of Belden from a “c+” rating to a “b-” rating in a report on Thursday, May 26th. Finally, The Goldman Sachs Group upgraded shares of Belden from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $57.00 to $55.00 in a report on Tuesday, April 19th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $72.50.

Belden Company Profile

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Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.

Further Reading

Want to see what other hedge funds are holding BDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Belden Inc. (NYSE:BDCGet Rating).

Institutional Ownership by Quarter for Belden (NYSE:BDC)

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