New York Life Investment Management LLC Cuts Stock Holdings in Belden Inc. (NYSE:BDC)

New York Life Investment Management LLC trimmed its position in shares of Belden Inc. (NYSE:BDCFree Report) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,103 shares of the industrial products company’s stock after selling 647 shares during the period. New York Life Investment Management LLC’s holdings in Belden were worth $396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in shares of Belden during the 2nd quarter valued at $982,000. South Dakota Investment Council increased its holdings in Belden by 22.4% in the 3rd quarter. South Dakota Investment Council now owns 53,634 shares of the industrial products company’s stock valued at $5,178,000 after acquiring an additional 9,801 shares during the last quarter. Olympiad Research LP bought a new stake in Belden in the 3rd quarter valued at $294,000. Oppenheimer Asset Management Inc. bought a new stake in Belden in the 3rd quarter valued at $898,000. Finally, Sei Investments Co. increased its holdings in Belden by 2.0% in the 2nd quarter. Sei Investments Co. now owns 286,036 shares of the industrial products company’s stock valued at $27,359,000 after acquiring an additional 5,683 shares during the last quarter. 99.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Leah Tate purchased 1,550 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $64.53 per share, with a total value of $100,021.50. Following the purchase, the senior vice president now owns 3,360 shares in the company, valued at $216,820.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BDC. Loop Capital reduced their price target on shares of Belden from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, October 16th. Truist Financial lifted their price target on shares of Belden from $89.00 to $98.00 and gave the company a “buy” rating in a report on Friday. The Goldman Sachs Group reduced their price target on shares of Belden from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Finally, StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Belden currently has an average rating of “Moderate Buy” and a consensus target price of $103.40.

Check Out Our Latest Report on BDC

Belden Stock Performance

Shares of NYSE:BDC opened at $83.23 on Friday. Belden Inc. has a 52 week low of $60.54 and a 52 week high of $99.13. The stock has a market capitalization of $3.47 billion, a P/E ratio of 14.70 and a beta of 1.02. The firm has a fifty day simple moving average of $74.90 and a two-hundred day simple moving average of $80.47. The company has a quick ratio of 1.95, a current ratio of 2.30 and a debt-to-equity ratio of 1.03.

Belden (NYSE:BDCGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.34. Belden had a net margin of 9.66% and a return on equity of 25.11%. The firm had revenue of $551.24 million during the quarter, compared to analysts’ expectations of $522.06 million. During the same period in the previous year, the company earned $1.75 EPS. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. On average, analysts expect that Belden Inc. will post 5.33 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 9th. Investors of record on Thursday, December 14th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. Belden’s dividend payout ratio is presently 3.53%.

About Belden

(Free Report)

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.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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