Belden Inc. (NYSE:BDC) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in shares of Belden Inc. (NYSE:BDC) by 10.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,042 shares of the industrial products company’s stock after selling 451 shares during the period. Truist Financial Corp’s holdings in Belden were worth $455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Belden by 0.3% during the 4th quarter. Principal Financial Group Inc. now owns 107,967 shares of the industrial products company’s stock worth $12,158,000 after buying an additional 307 shares during the last quarter. Principal Securities Inc. increased its holdings in Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 105 shares during the last quarter. Entropy Technologies LP acquired a new stake in Belden in the 4th quarter valued at approximately $270,000. Foster & Motley Inc. increased its holdings in Belden by 3.3% in the 4th quarter. Foster & Motley Inc. now owns 39,948 shares of the industrial products company’s stock valued at $4,499,000 after purchasing an additional 1,273 shares during the last quarter. Finally, Nilsine Partners LLC increased its holdings in Belden by 3.9% in the 4th quarter. Nilsine Partners LLC now owns 34,879 shares of the industrial products company’s stock valued at $3,928,000 after purchasing an additional 1,315 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BDC shares. StockNews.com upgraded shares of Belden from a “buy” rating to a “strong-buy” rating in a report on Monday, February 10th. Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Belden in a report on Monday, February 10th. Finally, Loop Capital dropped their target price on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $130.25.

Insiders Place Their Bets

In other news, Director Jonathan C. Klein sold 2,129 shares of Belden stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total transaction of $234,190.00. Following the completion of the sale, the director now directly owns 9,968 shares of the company’s stock, valued at approximately $1,096,480. The trade was a 17.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leah Tate sold 2,400 shares of Belden stock in a transaction on Friday, February 7th. The stock was sold at an average price of $114.77, for a total transaction of $275,448.00. Following the sale, the senior vice president now directly owns 23,243 shares of the company’s stock, valued at approximately $2,667,599.11. This trade represents a 9.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,228 shares of company stock worth $2,147,892 over the last 90 days. Corporate insiders own 1.59% of the company’s stock.

Belden Stock Performance

NYSE:BDC opened at $106.31 on Tuesday. The company has a fifty day simple moving average of $114.65 and a two-hundred day simple moving average of $115.04. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 22.10 and a beta of 1.08. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. Belden Inc. has a 52 week low of $80.90 and a 52 week high of $131.82.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Belden had a net margin of 8.06% and a return on equity of 21.42%. As a group, equities analysts anticipate that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 13th will be paid a $0.05 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.19%. Belden’s dividend payout ratio (DPR) is 4.16%.

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.