Inspire Investing LLC Sells 121 Shares of Belden Inc. (NYSE:BDC)

Inspire Investing LLC lessened its holdings in Belden Inc. (NYSE:BDC) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,751 shares of the industrial products company’s stock after selling 121 shares during the quarter. Inspire Investing LLC’s holdings in Belden were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Tidal Investments LLC boosted its stake in Belden by 198.4% in the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock valued at $1,138,000 after acquiring an additional 8,169 shares during the last quarter. Gendell Jeffrey L increased its holdings in Belden by 59.0% in the fourth quarter. Gendell Jeffrey L now owns 53,882 shares of the industrial products company’s stock valued at $4,162,000 after purchasing an additional 20,000 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in Belden by 8.0% in the first quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company’s stock valued at $9,195,000 after buying an additional 7,340 shares during the period. Wellington Management Group LLP lifted its stake in Belden by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock valued at $76,113,000 after buying an additional 149,263 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Belden by 1,724.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 104,214 shares of the industrial products company’s stock worth $9,651,000 after buying an additional 98,503 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

BDC opened at $112.43 on Monday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 22.00 and a beta of 1.07. The business’s 50-day moving average price is $99.95 and its two-hundred day moving average price is $94.14. Belden Inc. has a 1 year low of $60.54 and a 1 year high of $112.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.70 and a quick ratio of 1.25.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.14. The company had revenue of $604.34 million during the quarter, compared to analysts’ expectations of $574.32 million. Belden had a return on equity of 21.13% and a net margin of 8.51%. During the same quarter last year, the company earned $1.91 EPS. Belden’s revenue for the quarter was down 12.7% compared to the same quarter last year. Equities analysts expect that Belden Inc. will post 6.04 EPS for the current fiscal year.

Belden Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Brian Lieser sold 819 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the transaction, the executive vice president now directly owns 21,031 shares of the company’s stock, valued at $1,919,289.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Brian Edward Anderson sold 1,262 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $96.79, for a total value of $122,148.98. Following the completion of the sale, the senior vice president now directly owns 39,385 shares in the company, valued at $3,812,074.15. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian Lieser sold 819 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the sale, the executive vice president now directly owns 21,031 shares in the company, valued at $1,919,289.06. The disclosure for this sale can be found here. Insiders have sold a total of 11,137 shares of company stock valued at $1,095,457 over the last 90 days. 1.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BDC has been the topic of several recent analyst reports. Benchmark lifted their price objective on shares of Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Vertical Research initiated coverage on shares of Belden in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 price objective for the company. Truist Financial raised their price objective on Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Belden from a “hold” rating to a “buy” rating in a report on Monday, June 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.50.

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.