Public Employees Retirement Association of Colorado Boosts Stock Holdings in Belden Inc. (NYSE:BDC)

Public Employees Retirement Association of Colorado raised its stake in shares of Belden Inc. (NYSE:BDC) by 1,724.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,214 shares of the industrial products company’s stock after purchasing an additional 98,503 shares during the period. Public Employees Retirement Association of Colorado owned 0.26% of Belden worth $9,651,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Belden in the first quarter worth about $32,000. Whittier Trust Co. boosted its position in shares of Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 298 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Belden by 41.7% in the fourth quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after purchasing an additional 244 shares in the last quarter. Principal Securities Inc. bought a new stake in Belden in the fourth quarter worth $72,000. Finally, TFO Wealth Partners LLC raised its stake in Belden by 33,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 1,005 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other news, Director David J. Aldrich sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the transaction, the director now directly owns 53,396 shares of the company’s stock, valued at $5,189,557.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Jonathan C. Klein sold 1,093 shares of Belden stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total value of $104,381.50. Following the completion of the sale, the director now directly owns 13,704 shares in the company, valued at $1,308,732. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Aldrich sold 6,700 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $97.19, for a total transaction of $651,173.00. Following the completion of the sale, the director now directly owns 53,396 shares of the company’s stock, valued at $5,189,557.24. The disclosure for this sale can be found here. Insiders sold a total of 10,219 shares of company stock valued at $986,641 in the last three months. Company insiders own 1.59% of the company’s stock.

Belden Trading Up 0.1 %

BDC opened at $92.10 on Tuesday. 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’s 50 day moving average price is $94.46 and its 200-day moving average price is $88.04. Belden Inc. has a one year low of $60.54 and a one year high of $99.07. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 18.02 and a beta of 1.06.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.19. Belden had a return on equity of 23.11% and a net margin of 9.01%. The company had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. During the same quarter in the previous year, the business earned $1.68 EPS. Belden’s revenue was down 16.5% compared to the same quarter last year. On average, equities analysts forecast that Belden Inc. will post 5.85 EPS for the current year.

Belden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Thursday, June 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.22%. Belden’s payout ratio is 3.91%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BDC shares. Loop Capital lifted their price objective on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Benchmark restated a “buy” rating and set a $100.00 price objective on shares of Belden in a research report on Monday, May 6th. Vertical Research began coverage on Belden in a report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price for the company. Finally, Truist Financial increased their price target on Belden from $119.00 to $123.00 and gave the company a “buy” rating in a report on Friday, July 5th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.00.

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.