Belden Inc. (NYSE:BDC) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Belden Inc. (NYSE:BDCGet Rating) by 26.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,810 shares of the industrial products company’s stock after selling 1,746 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Belden were worth $256,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd increased its stake in Belden by 88.0% in the first quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 241 shares during the period. Pinebridge Investments L.P. increased its stake in Belden by 483.0% in the second quarter. Pinebridge Investments L.P. now owns 583 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 483 shares during the period. Meeder Asset Management Inc. increased its stake in Belden by 2,935.1% in the second quarter. Meeder Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,086 shares during the period. Atlas Capital Advisors LLC acquired a new position in Belden in the first quarter valued at $99,000. Finally, Profund Advisors LLC increased its stake in Belden by 13.6% in the first quarter. Profund Advisors LLC now owns 3,935 shares of the industrial products company’s stock valued at $218,000 after purchasing an additional 470 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Belden Trading Down 0.8 %

Shares of BDC opened at $79.70 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.89 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average is $68.06 and its two-hundred day moving average is $62.77. Belden Inc. has a twelve month low of $47.89 and a twelve month high of $82.83. The firm has a market capitalization of $3.41 billion, a P/E ratio of 24.75 and a beta of 1.32.

Belden (NYSE:BDCGet Rating) last issued its earnings results on Wednesday, November 2nd. The industrial products company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.20. Belden had a net margin of 5.53% and a return on equity of 26.35%. The company had revenue of $670.49 million for the quarter, compared to analyst estimates of $634.29 million. During the same period in the prior year, the business posted $1.31 earnings per share. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts predict that Belden Inc. will post 6.33 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Thursday, September 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.20 annualized dividend and a yield of 0.25%. Belden’s payout ratio is currently 6.21%.

Wall Street Analysts Forecast Growth

BDC has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Belden from $67.00 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, November 3rd. Jefferies Financial Group initiated coverage on shares of Belden in a research note on Tuesday. They set a “hold” rating and a $86.00 price target on the stock. Truist Financial boosted their price target on shares of Belden from $77.00 to $82.00 in a research note on Thursday, November 3rd. Finally, StockNews.com initiated coverage on shares of Belden in a research note on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

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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