Retirement Systems of Alabama Has $16.32 Million Position in Belden Inc. (NYSE:BDC)

Retirement Systems of Alabama reduced its stake in shares of Belden Inc. (NYSE:BDC) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 211,204 shares of the industrial products company’s stock after selling 608 shares during the quarter. Retirement Systems of Alabama owned approximately 0.51% of Belden worth $16,316,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BDC. Raymond James & Associates boosted its holdings in shares of Belden by 12.2% during the third quarter. Raymond James & Associates now owns 23,476 shares of the industrial products company’s stock worth $2,267,000 after purchasing an additional 2,553 shares during the period. Foster & Motley Inc. lifted its stake in Belden by 1.9% in the third quarter. Foster & Motley Inc. now owns 29,115 shares of the industrial products company’s stock valued at $2,811,000 after acquiring an additional 553 shares during the last quarter. GW Henssler & Associates Ltd. acquired a new stake in Belden in the third quarter valued at approximately $225,000. Bank of New York Mellon Corp lifted its stake in Belden by 15.7% in the third 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 acquiring an additional 111,232 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Belden by 24.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,959 shares of the industrial products company’s stock valued at $672,000 after acquiring an additional 1,349 shares during the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Brian Lieser sold 2,056 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.30, for a total transaction of $169,208.80. Following the transaction, the executive vice president now owns 21,772 shares of the company’s stock, valued at $1,791,835.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.59% of the stock is currently owned by insiders.

Belden Trading Down 3.7 %

Shares of BDC stock opened at $81.33 on Wednesday. Belden Inc. has a 1 year low of $60.54 and a 1 year high of $99.13. The firm’s fifty day simple moving average is $86.89 and its 200 day simple moving average is $77.96. The firm has a market capitalization of $3.31 billion, a P/E ratio of 14.37 and a beta of 1.04. The company has a current ratio of 2.30, a quick ratio of 1.72 and a debt-to-equity ratio of 1.03.

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

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Wednesday, March 13th. Belden’s dividend payout ratio (DPR) is currently 3.53%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BDC shares. StockNews.com cut shares of Belden from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. Truist Financial lifted their price target on shares of Belden from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.25.

About Belden

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.