BNP Paribas Financial Markets Cuts Stock Holdings in Belden Inc. (NYSE:BDC)

BNP Paribas Financial Markets lowered its holdings in shares of Belden Inc. (NYSE:BDC) by 17.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,785 shares of the industrial products company’s stock after selling 5,548 shares during the quarter. BNP Paribas Financial Markets’ holdings in Belden were worth $2,069,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in shares of Belden by 70.2% during the third quarter. California Public Employees Retirement System now owns 63,897 shares of the industrial products company’s stock worth $6,169,000 after purchasing an additional 26,348 shares in the last quarter. LSV Asset Management lifted its position in shares of Belden by 17.9% in the third quarter. LSV Asset Management now owns 83,700 shares of the industrial products company’s stock valued at $8,081,000 after acquiring an additional 12,700 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Belden in the third quarter worth approximately $431,000. Assenagon Asset Management S.A. increased its position in shares of Belden by 100.3% during the third quarter. Assenagon Asset Management S.A. now owns 40,722 shares of the industrial products company’s stock worth $3,932,000 after purchasing an additional 20,393 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Belden by 15.2% in the third quarter. Retirement Systems of Alabama now owns 211,812 shares of the industrial products company’s stock valued at $20,450,000 after buying an additional 27,977 shares during the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BDC shares. StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a research report on Monday, May 20th. Truist Financial upped their target price on shares of Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Loop Capital boosted their price target on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Benchmark reaffirmed a “buy” rating and set a $100.00 price objective on shares of Belden in a research report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Belden has a consensus rating of “Moderate Buy” and a consensus price target of $104.40.

Belden Stock Up 1.2 %

Shares of BDC opened at $97.63 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 2.55. The stock has a market capitalization of $3.97 billion, a PE ratio of 19.11 and a beta of 1.07. The company’s 50-day simple moving average is $89.13 and its 200-day simple moving average is $80.64. Belden Inc. has a 1 year low of $60.54 and a 1 year high of $99.13.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.05 by $0.19. The business had revenue of $536.00 million during the quarter, compared to the consensus estimate of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.68 earnings per share. Analysts forecast that Belden Inc. will post 5.77 earnings per share for the current fiscal year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Thursday, June 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Thursday, June 13th. Belden’s payout ratio is presently 3.91%.

About Belden

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.