Truist Financial Corp Has $7.60 Million Holdings in Belden Inc. (NYSE:BDC)

Truist Financial Corp lessened its holdings in shares of Belden Inc. (NYSE:BDC) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,408 shares of the industrial products company’s stock after selling 16,221 shares during the quarter. Truist Financial Corp owned approximately 0.24% of Belden worth $7,602,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Belden by 2.0% during the third 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 last quarter. FMR LLC grew its position in shares of 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 purchasing an additional 956,136 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of 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 purchasing an additional 111,232 shares during the last quarter. Channing Capital Management LLC grew its position in shares of Belden by 7.6% in the third quarter. Channing Capital Management LLC now owns 710,014 shares of the industrial products company’s stock valued at $68,552,000 after purchasing an additional 50,256 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of Belden by 3.9% in the third quarter. Lord Abbett & CO. LLC now owns 346,115 shares of the industrial products company’s stock valued at $33,417,000 after purchasing an additional 12,844 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Insiders Place Their Bets

In other Belden news, EVP Brian Lieser sold 2,056 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $82.30, for a total transaction of $169,208.80. Following the completion of the sale, the executive vice president now directly owns 21,772 shares in the company, valued at $1,791,835.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BDC. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial upped their target price on Belden from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.00.

Belden Trading Down 0.8 %

Shares of BDC stock opened at $88.18 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.72 and a debt-to-equity ratio of 1.03. The stock has a market cap of $3.59 billion, a P/E ratio of 15.58 and a beta of 1.07. The stock has a 50 day simple moving average of $87.04 and a 200 day simple moving average of $78.13. Belden Inc. has a 1 year low of $60.54 and a 1 year high of $99.13.

Belden (NYSE:BDC) last released its earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.19. Belden had a return on equity of 25.11% and a net margin of 9.66%. The firm had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $514.27 million. During the same period in the prior year, the company earned $1.68 earnings per share. The company’s quarterly revenue was down 16.5% on a year-over-year basis. On average, research analysts predict that Belden Inc. will post 5.33 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.23%. The ex-dividend date was Wednesday, March 13th. Belden’s payout ratio is presently 3.53%.

Belden 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.