Handelsbanken Fonder AB Trims Position in Belden Inc. (NYSE:BDC)

Handelsbanken Fonder AB cut its position in shares of Belden Inc. (NYSE:BDCGet Rating) by 19.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,030 shares of the industrial products company’s stock after selling 1,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Belden were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Belden by 1.1% during the first quarter. Vanguard Group Inc. now owns 4,398,989 shares of the industrial products company’s stock valued at $243,704,000 after purchasing an additional 48,838 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Belden by 1.1% during the second quarter. Victory Capital Management Inc. now owns 2,314,272 shares of the industrial products company’s stock valued at $123,282,000 after purchasing an additional 25,877 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Belden by 7.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,462,493 shares of the industrial products company’s stock worth $77,906,000 after acquiring an additional 102,396 shares in the last quarter. State Street Corp boosted its holdings in Belden by 0.3% in the second quarter. State Street Corp now owns 1,434,410 shares of the industrial products company’s stock worth $76,481,000 after acquiring an additional 4,474 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Belden by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,388,239 shares of the industrial products company’s stock worth $76,912,000 after acquiring an additional 7,963 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BDC has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Belden in a report on Tuesday, November 22nd. They issued a “hold” rating and a $86.00 target price on the stock. The Goldman Sachs Group boosted their target price on Belden from $67.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, November 3rd. StockNews.com assumed coverage on Belden in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Finally, Truist Financial upped their price target on Belden from $77.00 to $82.00 in a report on Thursday, November 3rd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.00.

Insider Activity at Belden

In related news, Director Jonathan C. Klein sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $79.82, for a total transaction of $79,820.00. Following the completion of the transaction, the director now directly owns 14,053 shares of the company’s stock, valued at $1,121,710.46. The sale was disclosed in a filing with the SEC, which is available through this link. 1.06% of the stock is owned by corporate insiders.

Belden Stock Performance

NYSE:BDC opened at $78.33 on Thursday. The company has a current ratio of 2.54, a quick ratio of 1.89 and a debt-to-equity ratio of 0.92. Belden Inc. has a 12-month low of $47.89 and a 12-month high of $82.83. The stock has a 50-day moving average price of $76.55 and a 200 day moving average price of $68.03. The stock has a market capitalization of $3.35 billion, a P/E ratio of 24.33 and a beta of 1.35.

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

Belden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 5th. Investors of record on Thursday, December 15th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Wednesday, December 14th. Belden’s payout ratio is presently 6.21%.

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.

See Also

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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