Federated Hermes Inc. Sells 1,592 Shares of Belden Inc. (NYSE:BDC)

Federated Hermes Inc. reduced its position in shares of Belden Inc. (NYSE:BDC) by 22.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,455 shares of the industrial products company’s stock after selling 1,592 shares during the period. Federated Hermes Inc.’s holdings in Belden were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BDC. Vanguard Group Inc. lifted its holdings in Belden by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,714,202 shares of the industrial products company’s stock worth $455,156,000 after buying an additional 92,544 shares during the period. FMR LLC boosted its holdings in Belden by 1,365.5% in the third quarter. FMR LLC now owns 1,026,156 shares of the industrial products company’s stock valued at $99,075,000 after acquiring an additional 956,136 shares during the last quarter. Bank of New York Mellon Corp increased its position in Belden by 15.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 820,463 shares of the industrial products company’s stock valued at $79,216,000 after purchasing an additional 111,232 shares during the period. Channing Capital Management LLC raised its holdings in Belden by 7.6% during the 3rd quarter. Channing Capital Management LLC now owns 710,014 shares of the industrial products company’s stock worth $68,552,000 after purchasing an additional 50,256 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its position in shares of Belden by 3.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 346,115 shares of the industrial products company’s stock worth $33,417,000 after purchasing an additional 12,844 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Insider Transactions at Belden

In related news, EVP Brian Lieser sold 2,056 shares of Belden stock in a transaction on Friday, February 23rd. The shares were 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 of the company’s stock, valued at approximately $1,791,835.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.59% of the stock is owned by insiders.

Belden Stock Down 0.8 %

Shares of NYSE BDC opened at $88.23 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The firm has a market cap of $3.59 billion, a PE ratio of 17.27 and a beta of 1.07. The company’s fifty day simple moving average is $87.12 and its 200 day simple moving average is $78.22. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $99.13.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.19. The firm had revenue of $536.00 million for the quarter, compared to analyst estimates of $514.27 million. Belden had a net margin of 9.01% and a return on equity of 23.11%. The business’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 earnings per share. As a group, sell-side analysts forecast that Belden Inc. will post 5.33 earnings per share for the current fiscal year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.23%. Belden’s dividend payout ratio is 3.91%.

Analysts Set New Price Targets

BDC has been the subject of several recent analyst reports. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial lifted their price objective on Belden from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Belden has a consensus rating of “Moderate Buy” and an average price target of $103.00.

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.