American Trust Trims Position in Belden Inc. (NYSE:BDC)

American Trust cut its position in Belden Inc. (NYSE:BDCGet Rating) by 85.3% in the first quarter, HoldingsChannel.com reports. The firm owned 4,855 shares of the industrial products company’s stock after selling 28,165 shares during the quarter. American Trust’s holdings in Belden were worth $269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Belden by 1.1% in the first quarter. Vanguard Group Inc. now owns 4,398,989 shares of the industrial products company’s stock worth $243,704,000 after purchasing an additional 48,838 shares in the last quarter. Victory Capital Management Inc. increased its stake in Belden by 11.4% in the 1st quarter. Victory Capital Management Inc. now owns 2,288,395 shares of the industrial products company’s stock worth $126,636,000 after buying an additional 233,574 shares during the period. Pzena Investment Management LLC increased its stake in Belden by 10.9% in the 1st quarter. Pzena Investment Management LLC now owns 1,867,145 shares of the industrial products company’s stock worth $103,440,000 after buying an additional 183,829 shares during the period. State Street Corp increased its stake in Belden by 4.6% in the 1st quarter. State Street Corp now owns 1,429,936 shares of the industrial products company’s stock worth $79,289,000 after buying an additional 62,728 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Belden by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,388,239 shares of the industrial products company’s stock worth $76,912,000 after buying an additional 7,963 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TheStreet raised shares of Belden from a “c+” rating to a “b-” rating in a research note on Thursday, May 26th. The Goldman Sachs Group raised their target price on shares of Belden from $59.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, August 4th. Finally, Truist Financial raised their target price on shares of Belden from $67.00 to $77.00 in a research report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Belden currently has a consensus rating of “Buy” and an average target price of $78.50.

Belden Trading Up 0.5 %

NYSE BDC opened at $64.98 on Monday. The company’s 50-day simple moving average is $64.97 and its two-hundred day simple moving average is $58.01. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.72 and a current ratio of 2.39. Belden Inc. has a one year low of $47.89 and a one year high of $70.97. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 34.20 and a beta of 1.33.

Belden (NYSE:BDCGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.17. Belden had a net margin of 3.37% and a return on equity of 25.73%. The firm had revenue of $666.60 million for the quarter, compared to the consensus estimate of $633.68 million. During the same quarter in the previous year, the firm earned $1.21 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities analysts forecast that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Thursday, September 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Wednesday, September 14th. Belden’s payout ratio is currently 10.53%.

Insider Transactions at Belden

In other news, CEO Roel Vestjens sold 14,424 shares of Belden stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $66.66, for a total value of $961,503.84. Following the transaction, the chief executive officer now owns 44,865 shares of the company’s stock, valued at approximately $2,990,700.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Roel Vestjens sold 14,424 shares of Belden stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $66.66, for a total value of $961,503.84. Following the completion of the sale, the chief executive officer now directly owns 44,865 shares in the company, valued at approximately $2,990,700.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan C. Klein sold 1,000 shares of Belden stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $66.90, for a total transaction of $66,900.00. Following the completion of the sale, the director now owns 15,053 shares of the company’s stock, valued at $1,007,045.70. The disclosure for this sale can be found here. Insiders have sold a total of 19,424 shares of company stock valued at $1,294,844 in the last 90 days. Insiders own 1.06% of the company’s stock.

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.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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