Raymond James & Associates Decreases Position in Belden Inc. (NYSE:BDC)

Raymond James & Associates decreased its position in shares of Belden Inc. (NYSE:BDC) by 69.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,189 shares of the industrial products company’s stock after selling 16,287 shares during the quarter. Raymond James & Associates’ holdings in Belden were worth $555,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its position in Belden by 15.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,589 shares of the industrial products company’s stock valued at $153,000 after acquiring an additional 209 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its holdings in shares of Belden by 181.2% during the third quarter. C M Bidwell & Associates Ltd. now owns 2,188 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 1,410 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Belden during the third quarter valued at $213,000. GW Henssler & Associates Ltd. purchased a new stake in shares of Belden during the third quarter valued at $225,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Belden in the 3rd quarter worth about $264,000. Institutional investors own 98.75% of the company’s stock.

Belden Stock Down 0.4 %

Belden stock opened at $82.89 on Friday. Belden Inc. has a one year low of $60.54 and a one year high of $99.13. The stock has a fifty day moving average of $86.86 and a 200 day moving average of $78.37. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.72 and a current ratio of 2.30. The stock has a market cap of $3.37 billion, a PE ratio of 14.64 and a beta of 1.04.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, February 8th. The industrial products company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.12 by $0.34. The firm had revenue of $551.24 million during the quarter, compared to analyst estimates of $522.06 million. Belden had a net margin of 9.66% and a return on equity of 25.11%. The business’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.75 EPS. As a group, sell-side analysts predict that Belden Inc. will post 5.33 EPS for the current year.

Belden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. Belden’s dividend payout ratio is currently 3.53%.

Insider Activity at Belden

In other Belden news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $82.30, for a total value of $169,208.80. Following the completion of the sale, the executive vice president now owns 21,772 shares in the company, valued at $1,791,835.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BDC. Truist Financial upped their target price on shares of Belden from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 9th. StockNews.com downgraded shares of Belden from a “buy” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

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.