First Eagle Investment Management LLC Cuts Position in Belden Inc. (NYSE:BDC)

First Eagle Investment Management LLC lowered its holdings in Belden Inc. (NYSE:BDC) by 4.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,891 shares of the industrial products company’s stock after selling 4,400 shares during the quarter. First Eagle Investment Management LLC owned 0.23% of Belden worth $8,901,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in Belden during the second quarter worth about $28,000. Whittier Trust Co. boosted its stake in shares of Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 298 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of Belden in the 1st quarter worth approximately $32,000. Quadrant Capital Group LLC grew its holdings in shares of Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after acquiring an additional 244 shares during the period. Finally, Principal Securities Inc. purchased a new position in Belden in the 4th quarter valued at approximately $72,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Belden Stock Performance

Shares of NYSE BDC opened at $110.13 on Friday. The company has a 50-day simple moving average of $99.31 and a 200-day simple moving average of $93.76. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25. The company has a market cap of $4.48 billion, a PE ratio of 21.55 and a beta of 1.07. Belden Inc. has a 12 month low of $60.54 and a 12 month high of $110.34.

Belden (NYSE:BDC) last announced its earnings results on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. The firm had revenue of $604.34 million for the quarter, compared to analyst estimates of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. Belden’s revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.91 earnings per share. On average, equities analysts anticipate that Belden Inc. will post 6.04 earnings per share for the current year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.18%. Belden’s dividend payout ratio (DPR) is presently 3.91%.

Insiders Place Their Bets

In other news, SVP Brian Edward Anderson sold 1,262 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the transaction, the senior vice president now owns 39,385 shares of the company’s stock, valued at approximately $3,812,074.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Belden news, Director Nancy E. Calderon sold 2,500 shares of Belden stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.98, for a total transaction of $239,950.00. Following the transaction, the director now directly owns 6,954 shares of the company’s stock, valued at $667,444.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Brian Edward Anderson sold 1,262 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total transaction of $122,148.98. Following the completion of the sale, the senior vice president now directly owns 39,385 shares of the company’s stock, valued at approximately $3,812,074.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,137 shares of company stock valued at $1,095,457. Insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BDC. Benchmark boosted their target price on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. Vertical Research started coverage on shares of Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. StockNews.com raised shares of Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Finally, Truist Financial raised their price objective on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.50.

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.