Parkside Financial Bank & Trust Cuts Stock Position in Belden Inc. (NYSE:BDC)

Parkside Financial Bank & Trust lessened its stake in Belden Inc. (NYSE:BDC) by 65.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 545 shares of the industrial products company’s stock after selling 1,044 shares during the period. Parkside Financial Bank & Trust’s holdings in Belden were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in shares of Belden by 22.8% during the fourth quarter. New York State Common Retirement Fund now owns 255,593 shares of the industrial products company’s stock worth $19,745,000 after purchasing an additional 47,532 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Belden by 6.3% during the fourth quarter. California Public Employees Retirement System now owns 67,922 shares of the industrial products company’s stock worth $5,247,000 after purchasing an additional 4,025 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Belden by 45.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 62,936 shares of the industrial products company’s stock valued at $4,862,000 after acquiring an additional 19,558 shares during the period. Foster & Motley Inc. lifted its holdings in Belden by 2.2% in the fourth quarter. Foster & Motley Inc. now owns 29,761 shares of the industrial products company’s stock valued at $2,299,000 after acquiring an additional 646 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Belden by 49.1% in the fourth quarter. Jennison Associates LLC now owns 17,127 shares of the industrial products company’s stock valued at $1,323,000 after acquiring an additional 5,640 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Belden Stock Up 0.6 %

Belden stock opened at $83.36 on Friday. The stock has a market capitalization of $3.39 billion, a PE ratio of 14.73 and a beta of 1.04. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $99.13. The business has a 50 day simple moving average of $86.86 and a 200-day simple moving average of $78.29. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.30 and a quick ratio of 1.72.

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

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were given 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 was Wednesday, March 13th. Belden’s payout ratio is 3.53%.

Analysts Set New Price Targets

A number of research analysts have issued reports on BDC shares. StockNews.com downgraded Belden from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Truist Financial boosted their price target on Belden from $89.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Insider Buying and Selling

In related news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now directly owns 21,772 shares in the company, valued at $1,791,835.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.42% of the stock is owned by company insiders.

Belden Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications 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 to the home, and building automation.