New York State Teachers Retirement System Sells 200 Shares of Belden Inc. (NYSE:BDC)

New York State Teachers Retirement System lowered its stake in Belden Inc. (NYSE:BDC) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,323 shares of the industrial products company’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System owned approximately 0.16% of Belden worth $7,131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of Belden in the third quarter valued at about $33,000. First Horizon Advisors Inc. grew its position in shares of Belden by 97.7% in the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 209 shares during the last quarter. KBC Group NV grew its position in shares of Belden by 27.8% in the third quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock valued at $148,000 after purchasing an additional 274 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Belden by 72.3% in the third quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company’s stock valued at $167,000 after purchasing an additional 599 shares during the last quarter. Finally, Matrix Trust Co grew its position in shares of Belden by 624.8% in the fourth quarter. Matrix Trust Co now owns 1,522 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 1,312 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Down 0.4 %

Shares of NYSE:BDC opened at $114.70 on Thursday. The company has a fifty day moving average of $115.91 and a 200-day moving average of $114.13. The company has a market capitalization of $4.62 billion, a PE ratio of 23.85 and a beta of 1.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. Belden Inc. has a 52-week low of $78.64 and a 52-week high of $131.82.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. Belden had a return on equity of 21.42% and a net margin of 8.06%. On average, equities analysts predict that Belden Inc. will post 7.07 EPS for the current fiscal year.

Insider Activity at Belden

In other Belden news, SVP Leah Tate sold 2,400 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $114.77, for a total transaction of $275,448.00. Following the completion of the sale, the senior vice president now directly owns 23,243 shares in the company, valued at approximately $2,667,599.11. This trade represents a 9.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Loop Capital cut their price target on Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Truist Financial boosted their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Benchmark restated a “buy” rating and set a $130.00 target price on shares of Belden in a research note on Monday, February 10th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $130.25.

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.