Thrivent Financial for Lutherans Sells 242 Shares of Belden Inc. (NYSE:BDC)

Thrivent Financial for Lutherans lessened its holdings in Belden Inc. (NYSE:BDC) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,587 shares of the industrial products company’s stock after selling 242 shares during the period. Thrivent Financial for Lutherans’ holdings in Belden were worth $1,123,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Matrix Trust Co purchased a new position in Belden in the third quarter worth $25,000. Opal Wealth Advisors LLC bought a new position in Belden during the second quarter valued at about $28,000. GAMMA Investing LLC grew its position in Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after buying an additional 117 shares during the period. Innealta Capital LLC purchased a new stake in Belden during the second quarter worth about $95,000. Finally, Rothschild Investment LLC bought a new stake in Belden in the second quarter worth about $141,000. 98.75% of the stock is owned by institutional investors.

Insider Transactions at Belden

In other news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.59% of the company’s stock.

Belden Price Performance

BDC opened at $122.40 on Monday. The firm has a 50-day moving average price of $119.37 and a 200-day moving average price of $105.09. Belden Inc. has a twelve month low of $65.64 and a twelve month high of $131.82. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 28.47 and a beta of 1.07.

Belden (NYSE:BDC) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.09. The business had revenue of $654.90 million during the quarter, compared to analyst estimates of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. Belden’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. Equities analysts expect that Belden Inc. will post 6.12 EPS for the current year.

Belden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, December 12th. Belden’s dividend payout ratio is presently 4.65%.

Analyst Ratings Changes

BDC has been the subject of a number of research reports. Truist Financial increased their target price on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark increased their price objective on Belden from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $122.75.

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.