News

Jun 06, 2023

6,376 Shares in Belden Inc. (NYSE:BDC) Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. acquired a new position in Belden Inc. (NYSE:BDC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC.

Robeco Institutional Asset Management B.V. acquired a new position in Belden Inc. (NYSE:BDC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,376 shares of the industrial products company's stock, valued at approximately $553,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BDC. Retirement Systems of Alabama lifted its holdings in shares of Belden by 5.9% during the 4th quarter. Retirement Systems of Alabama now owns 213,919 shares of the industrial products company's stock valued at $15,381,000 after buying an additional 11,936 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of Belden in the fourth quarter worth about $417,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Belden by 8.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 15,632 shares of the industrial products company's stock worth $1,356,000 after acquiring an additional 1,208 shares in the last quarter. Shilanski & Associates Inc. bought a new position in shares of Belden in the 4th quarter valued at approximately $1,064,000. Finally, Bank of Nova Scotia bought a new position in shares of Belden in the 4th quarter valued at approximately $203,000.

BDC opened at $87.25 on Monday. The stock has a market cap of $3.71 billion, a PE ratio of 13.02 and a beta of 1.32. The company has a current ratio of 2.53, a quick ratio of 2.00 and a debt-to-equity ratio of 1.02. Belden Inc. has a 1 year low of $58.53 and a 1 year high of $99.13. The stock's 50 day simple moving average is $94.19 and its 200-day simple moving average is $87.00.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.16. Belden had a return on equity of 27.11% and a net margin of 10.97%. The business had revenue of $692.25 million for the quarter, compared to analysts' expectations of $687.49 million. During the same period in the previous year, the business posted $1.60 earnings per share. Belden's quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts forecast that Belden Inc. will post 7.27 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, June 14th. Belden's dividend payout ratio (DPR) is 2.99%.

In other news, CEO Ashish Chand sold 26,371 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $94.81, for a total transaction of $2,500,234.51. Following the sale, the chief executive officer now owns 45,682 shares in the company, valued at $4,331,110.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ashish Chand sold 26,371 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $94.81, for a total transaction of $2,500,234.51. Following the sale, the chief executive officer now owns 45,682 shares in the company, valued at $4,331,110.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Lieser sold 829 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $94.34, for a total value of $78,207.86. Following the sale, the executive vice president now owns 17,363 shares in the company, valued at approximately $1,638,025.42. The disclosure for this sale can be found here. Insiders have sold 34,421 shares of company stock worth $3,241,593 over the last three months. Company insiders own 1.42% of the company's stock.

BDC has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Belden from $107.00 to $118.00 and gave the company a "buy" rating in a report on Friday, July 14th. StockNews.com lowered Belden from a "strong-buy" rating to a "buy" rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Belden presently has a consensus rating of "Moderate Buy" and an average price target of $101.80.

Belden Inc provides portfolio of signal transmission solutions 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, and home and building automation.

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