Federated Hermes Inc. Sells 369 Shares of Belden Inc. (NYSE:BDC)

Federated Hermes Inc. lessened its holdings in shares of Belden Inc. (NYSE:BDC) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,685 shares of the industrial products company’s stock after selling 369 shares during the period. Federated Hermes Inc.’s holdings in Belden were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BDC. Opal Wealth Advisors LLC bought a new position in shares of Belden during the second quarter valued at approximately $28,000. Rise Advisors LLC bought a new position in Belden during the 1st quarter valued at approximately $32,000. Whittier Trust Co. raised its stake in Belden by 662.2% during the first quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after buying an additional 298 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Belden by 41.7% in the fourth 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 in the last quarter. Finally, TFO Wealth Partners LLC increased its holdings in shares of Belden by 33,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 1,005 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Belden Price Performance

Shares of BDC opened at $113.83 on Tuesday. The firm has a market cap of $4.63 billion, a PE ratio of 22.28 and a beta of 1.07. Belden Inc. has a 1-year low of $60.54 and a 1-year high of $114.86. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $100.29 and a two-hundred day simple moving average of $94.31.

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 the consensus estimate of $1.37 by $0.14. The business had revenue of $604.34 million for 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%. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period last year, the firm posted $1.91 earnings per share. On average, equities analysts anticipate that Belden Inc. will post 6.04 EPS for the current year.

Belden Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the sale, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the completion of the sale, 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 accessible through the SEC website. Also, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the transaction, the senior vice president now owns 32,829 shares in the company, valued at approximately $3,298,001.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,137 shares of company stock worth $1,095,457. Company insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

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