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

American Trust lessened its holdings in Belden Inc. (NYSE:BDC – Get Rating) by 12.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,839 shares of the industrial products company’s stock after selling 680 shares during the period. American Trust’s holdings in Belden were worth $290,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Channing Capital Management LLC grew its position in shares of Belden by 150.0% during the third quarter. Channing Capital Management LLC now owns 988,969 shares of the industrial products company’s stock valued at $59,358,000 after purchasing an additional 593,351 shares in the last quarter. Waters Parkerson & CO. LLC purchased a new position in shares of Belden during the third quarter valued at about $11,030,000. New York State Common Retirement Fund grew its position in shares of Belden by 84.2% during the third quarter. New York State Common Retirement Fund now owns 277,977 shares of the industrial products company’s stock valued at $16,684,000 after purchasing an additional 127,076 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Belden by 22,332.6% during the third quarter. Macquarie Group Ltd. now owns 127,417 shares of the industrial products company’s stock valued at $7,682,000 after purchasing an additional 126,849 shares in the last quarter. Finally, Ziegler Capital Management LLC purchased a new position in shares of Belden during the third quarter valued at about $7,424,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

BDC has been the subject of a number of research analyst reports. StockNews.com started coverage on Belden in a research report on Thursday. They set a “strong-buy” rating for the company. Truist Financial lifted their price target on Belden from $93.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Loop Capital lifted their price target on Belden from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Benchmark lifted their price target on Belden from $88.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Finally, Jefferies Financial Group started coverage on Belden in a research report on Tuesday, November 22nd. They issued a “hold” rating and a $86.00 price target for the company. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.00.

Belden Stock Down 1.9 %

Shares of NYSE BDC opened at $81.95 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.40 and a quick ratio of 1.87. The company has a market cap of $3.52 billion, a P/E ratio of 14.25 and a beta of 1.32. Belden Inc. has a 1 year low of $47.89 and a 1 year high of $92.33. The firm has a 50-day simple moving average of $83.38 and a two-hundred day simple moving average of $74.84.

Belden (NYSE:BDC – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The industrial products company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. Belden had a net margin of 9.77% and a return on equity of 26.70%. The firm had revenue of $659.07 million during the quarter, compared to the consensus estimate of $644.17 million. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Research analysts anticipate that Belden Inc. will post 6.84 earnings per share for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Tuesday, March 14th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Monday, March 13th. Belden’s dividend payout ratio is presently 3.48%.

Insider Activity

In other news, Director Jonathan C. Klein sold 2,500 shares of Belden stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $81.49, for a total transaction of $203,725.00. Following the completion of the sale, the director now owns 11,553 shares of the company’s stock, valued at $941,453.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jonathan C. Klein sold 2,500 shares of Belden stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $81.49, for a total transaction of $203,725.00. Following the completion of the sale, the director now owns 11,553 shares of the company’s stock, valued at $941,453.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anshuman Mehrotra sold 4,360 shares of Belden stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $86.99, for a total transaction of $379,276.40. Following the transaction, the executive vice president now directly owns 12,682 shares in the company, valued at $1,103,207.18. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.

About Belden

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Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.