Charles Schwab Investment Management Inc. Sells 5,722 Shares of Belden Inc. (NYSE:BDC)

Charles Schwab Investment Management Inc. lowered its position in shares of Belden Inc. (NYSE:BDC) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 492,345 shares of the industrial products company’s stock after selling 5,722 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Belden were worth $57,668,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Matrix Trust Co bought a new stake in shares of Belden during the third quarter worth $25,000. Opal Wealth Advisors LLC bought a new stake in Belden in the second quarter valued at about $28,000. GAMMA Investing LLC increased its holdings in Belden by 72.2% in the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Belden in the third quarter valued at about $33,000. Finally, First Horizon Advisors Inc. increased its holdings in Belden by 97.7% in the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Insider Transactions at Belden

In other news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,643 shares of the company’s stock, valued at $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.59% of the stock is owned by insiders.

Belden Stock Up 0.5 %

NYSE:BDC opened at $122.52 on Friday. Belden Inc. has a 1 year low of $65.64 and a 1 year high of $131.82. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 28.43 and a beta of 1.07. The stock has a 50-day moving average price of $119.17 and a two-hundred day moving average price of $104.80.

Belden (NYSE:BDC) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. Belden had a return on equity of 20.55% and a net margin of 7.61%. The firm had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. During the same period in the previous year, the firm earned $1.78 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts expect that Belden Inc. will post 6.12 earnings per share for the current year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. Belden’s dividend payout ratio is currently 4.65%.

Analyst Ratings Changes

BDC has been the subject of a number of recent analyst reports. Benchmark upped their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial upped their price objective on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $122.75.

Belden Company 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.