Belden Inc $BDC Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Raises Holdings

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Belden Inc (NYSE:BDC) by 168.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,400 shares of the industrial products company’s stock after acquiring an additional 8,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Belden were worth $1,446,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its holdings in Belden by 111.4% during the second quarter. Squarepoint Ops LLC now owns 23,192 shares of the industrial products company’s stock worth $2,781,000 after purchasing an additional 12,219 shares during the period. BlackRock Inc. acquired a new position in Belden during the second quarter worth approximately $616,536,000. Legal & General Group Plc acquired a new position in Belden during the second quarter worth approximately $6,477,000. Jupiter Topco LLC bought a new stake in Belden in the second quarter valued at approximately $4,135,000. Finally, Kerrisdale Advisers LLC raised its stake in Belden by 1,440.9% in the second quarter. Kerrisdale Advisers LLC now owns 143,000 shares of the industrial products company’s stock valued at $17,147,000 after buying an additional 133,720 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on BDC shares. Truist Financial reaffirmed a “buy” rating and issued a $145.00 price objective (down from $155.00) on shares of Belden in a research report on Friday, July 31st. Zacks Research lowered Belden from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. DA Davidson increased their price target on Belden from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Wall Street Zen cut Belden from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Fox Advisors raised Belden from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Belden currently has an average rating of “Moderate Buy” and an average price target of $156.00.

Belden Stock Performance

Shares of NYSE:BDC opened at $105.22 on Thursday. The company’s 50 day moving average price is $110.70 and its two-hundred day moving average price is $118.00. Belden Inc has a 12-month low of $96.06 and a 12-month high of $159.99. The firm has a market cap of $4.11 billion, a PE ratio of 23.64 and a beta of 1.16. The company has a quick ratio of 1.24, a current ratio of 1.82 and a debt-to-equity ratio of 2.18.

Belden (NYSE:BDC) last announced its earnings results on Thursday, October 29th. The industrial products company reported $2.26 EPS for the quarter, hitting the consensus estimate of $2.26. The company had revenue of $965.95 million for the quarter, compared to analysts’ expectations of $961.91 million. Belden had a net margin of 5.62% and a return on equity of 25.06%. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period last year, the firm earned $1.97 earnings per share. Equities research analysts predict that Belden Inc will post 8.66 earnings per share for the current year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Wednesday, September 16th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Wednesday, September 16th. Belden’s dividend payout ratio (DPR) is 4.49%.

Belden Profile

Belden Inc (NYSE: BDC) is a global provider of signal transmission and networking solutions. The company designs and manufactures products that support the secure movement of data, audio and video across enterprise, industrial and broadcast environments.

Its product portfolio includes copper and fiber-optic cable, connectors, patching and rack systems, industrial Ethernet equipment, network infrastructure, cybersecurity and software-enabled solutions. Belden’s offerings are used in applications such as industrial automation, transportation, energy, enterprise networking, data centers, smart buildings and professional broadcasting.

Founded in 1902, Belden serves customers through operations and distribution channels spanning North America, Europe, Asia and other international markets.