New York State Common Retirement Fund Has $15.25 Million Stake in Belden Inc (NYSE:BDC)

New York State Common Retirement Fund decreased its stake in Belden Inc (NYSE:BDC) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,146 shares of the industrial products company’s stock after selling 5,286 shares during the quarter. New York State Common Retirement Fund’s holdings in Belden were worth $15,253,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. FMR LLC lifted its holdings in Belden by 5.0% during the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company’s stock worth $530,418,000 after purchasing an additional 223,887 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Belden by 0.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,043,510 shares of the industrial products company’s stock worth $105,478,000 after acquiring an additional 7,683 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Belden by 0.5% during the 4th quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company’s stock worth $80,154,000 after acquiring an additional 3,692 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Belden by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company’s stock valued at $78,309,000 after buying an additional 18,825 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Belden by 10.2% in the fourth quarter. Northern Trust Corp now owns 633,204 shares of the industrial products company’s stock valued at $71,305,000 after buying an additional 58,508 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on BDC shares. Benchmark raised their target price on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, June 17th. The Goldman Sachs Group restated a “buy” rating on shares of Belden in a report on Friday, July 11th. Finally, Wall Street Zen lowered Belden from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 21st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $128.20.

Insider Transactions at Belden

In related news, SVP Leah Tate sold 231 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total transaction of $26,250.84. Following the completion of the transaction, the senior vice president owned 30,170 shares in the company, valued at $3,428,518.80. This represents a 0.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.48% of the stock is owned by corporate insiders.

Belden Price Performance

Shares of Belden stock opened at $131.02 on Friday. Belden Inc has a one year low of $83.18 and a one year high of $131.82. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.29 and a current ratio of 1.93. The stock has a market cap of $5.18 billion, a P/E ratio of 25.29 and a beta of 1.24. The stock’s fifty day moving average is $113.55 and its 200 day moving average is $109.17.

Belden (NYSE:BDC) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.48 by $0.12. The company had revenue of $624.86 million during the quarter, compared to analyst estimates of $615.81 million. Belden had a return on equity of 22.28% and a net margin of 8.35%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $1.24 earnings per share. Sell-side analysts anticipate that Belden Inc will post 7.07 earnings per share for the current year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date of this dividend was Thursday, June 12th. Belden’s dividend payout ratio (DPR) is presently 3.86%.

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.