Retirement Systems of Alabama Sells 32,712 Shares of Belden Inc. (NYSE:BDC)

Retirement Systems of Alabama decreased its holdings in Belden Inc. (NYSE:BDC) by 13.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,861 shares of the industrial products company’s stock after selling 32,712 shares during the period. Retirement Systems of Alabama owned 0.54% of Belden worth $25,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Peapack Gladstone Financial Corp purchased a new stake in Belden during the third quarter valued at approximately $243,000. Tidal Investments LLC increased its position in shares of Belden by 5.1% during the 3rd quarter. Tidal Investments LLC now owns 8,742 shares of the industrial products company’s stock valued at $1,024,000 after purchasing an additional 426 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Belden by 72.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company’s stock valued at $167,000 after buying an additional 599 shares during the period. Geode Capital Management LLC lifted its position in Belden by 0.6% in the third quarter. Geode Capital Management LLC now owns 960,974 shares of the industrial products company’s stock worth $112,580,000 after buying an additional 5,727 shares during the last quarter. Finally, Barclays PLC boosted its stake in Belden by 189.4% during the third quarter. Barclays PLC now owns 80,132 shares of the industrial products company’s stock worth $9,386,000 after buying an additional 52,439 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Ratings Changes

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

Belden Stock Down 1.5 %

NYSE:BDC opened at $121.00 on Friday. The stock has a fifty day simple moving average of $120.64 and a 200-day simple moving average of $106.89. 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 company has a market cap of $4.88 billion, a price-to-earnings ratio of 28.14 and a beta of 1.08. Belden Inc. has a twelve month low of $71.20 and a twelve month high of $131.82.

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

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 annualized dividend and a yield of 0.17%. Belden’s payout ratio is currently 4.65%.

Insider Buying and Selling at Belden

In other Belden news, CAO Doug Zink sold 1,324 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $117.49, for a total transaction of $155,556.76. Following the transaction, the chief accounting officer now directly owns 9,643 shares in the company, valued at $1,132,956.07. This represents a 12.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.59% of the stock is currently owned by corporate 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.