Belden Inc. (NYSE:BDC) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC cut its stake in shares of Belden Inc. (NYSE:BDC) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 541,695 shares of the industrial products company’s stock after selling 6,880 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Belden were worth $63,449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of Belden by 20.4% in the 1st quarter. Janus Henderson Group PLC now owns 24,110 shares of the industrial products company’s stock valued at $2,231,000 after purchasing an additional 4,093 shares during the period. Tidal Investments LLC raised its position in shares of Belden by 198.4% during the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock worth $1,138,000 after purchasing an additional 8,169 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Belden by 269.9% during the second quarter. Harbor Capital Advisors Inc. now owns 14,827 shares of the industrial products company’s stock worth $1,391,000 after acquiring an additional 10,819 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Belden in the 2nd quarter valued at about $28,000. Finally, SG Americas Securities LLC grew its stake in Belden by 1.4% during the second quarter. SG Americas Securities LLC now owns 34,116 shares of the industrial products company’s stock worth $3,200,000 after buying an additional 481 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Belden

In other news, CAO Doug Zink sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total value of $386,460.00. Following the completion of the sale, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at $855,751.26. This trade represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.59% of the stock is owned by corporate insiders.

Belden Stock Performance

Shares of BDC opened at $123.91 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. Belden Inc. has a one year low of $67.46 and a one year high of $131.82. The business has a fifty day moving average of $119.37 and a 200 day moving average of $105.16. The firm has a market capitalization of $5.00 billion, a P/E ratio of 28.82 and a beta of 1.08.

Belden (NYSE:BDC) last issued its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The firm had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. During the same quarter last year, the business earned $1.78 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Belden Inc. will post 6.12 EPS for the current year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. Belden’s dividend payout ratio is presently 4.65%.

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.