Belden Inc. (NYSE:BDC) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division cut its holdings in Belden Inc. (NYSE:BDC) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,335 shares of the industrial products company’s stock after selling 262 shares during the period. Moody National Bank Trust Division’s holdings in Belden were worth $1,180,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BDC. Quadrant Capital Group LLC increased its holdings in shares of Belden by 97.2% in the 4th quarter. Quadrant Capital Group LLC now owns 353 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 174 shares during the period. NewEdge Advisors LLC raised its stake in Belden by 287.2% during the 1st quarter. NewEdge Advisors LLC now owns 453 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 336 shares in the last quarter. Quarry LP increased its holdings in shares of Belden by 153.6% during the first quarter. Quarry LP now owns 459 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 278 shares during the period. Point72 Hong Kong Ltd lifted its holdings in Belden by 88.0% in the first quarter. Point72 Hong Kong Ltd now owns 515 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 241 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Belden during the 1st quarter valued at about $55,000. Institutional investors own 99.16% of the company’s stock.

Wall Street Analysts Forecast Growth

BDC has been the subject of a number of research analyst reports. The Goldman Sachs Group raised shares of Belden from a “neutral” rating to a “buy” rating and upped their price target for the stock from $93.00 to $117.00 in a research note on Monday, September 4th. StockNews.com downgraded Belden from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Truist Financial lifted their price target on Belden from $107.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, July 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.80.

Insider Buying and Selling

In other Belden news, CEO Ashish Chand sold 26,371 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $94.81, for a total transaction of $2,500,234.51. Following the completion of the sale, the chief executive officer now directly owns 45,682 shares of the company’s stock, valued at $4,331,110.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is currently owned by company insiders.

Belden Stock Down 0.5 %

NYSE BDC opened at $96.91 on Friday. The company has a market capitalization of $4.10 billion, a P/E ratio of 14.46 and a beta of 1.31. Belden Inc. has a 12 month low of $58.53 and a 12 month high of $99.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.53 and a quick ratio of 1.92. The company’s 50 day simple moving average is $92.89 and its 200 day simple moving average is $88.34.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.16. The company had revenue of $692.25 million during the quarter, compared to the consensus estimate of $687.49 million. Belden had a return on equity of 27.11% and a net margin of 10.97%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. Equities research analysts expect that Belden Inc. will post 7.27 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Wednesday, September 13th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.21%. Belden’s dividend payout ratio is currently 2.99%.

Belden Profile

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 Automation 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.