Belden Inc. (NYSE:BDC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in shares of Belden Inc. (NYSE:BDC) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,688 shares of the industrial products company’s stock after selling 928 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Belden were worth $1,992,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BDC. Prospera Private Wealth LLC purchased a new position in Belden in the third quarter valued at $33,000. First Horizon Advisors Inc. increased its holdings in 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 buying an additional 209 shares in the last quarter. Principal Securities Inc. increased its holdings in Belden by 9.6% in the fourth quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock valued at $135,000 after buying an additional 105 shares in the last quarter. KBC Group NV increased its holdings in 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 buying an additional 274 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in 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 buying an additional 599 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Belden Trading Down 1.9 %

Shares of NYSE:BDC opened at $111.41 on Monday. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. The company’s 50 day moving average is $115.53 and its two-hundred day moving average is $114.52. The company has a market cap of $4.49 billion, a PE ratio of 23.16 and a beta of 1.08. Belden Inc. has a 52 week low of $80.73 and a 52 week high of $131.82.

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

Insider Activity

In other news, SVP Leah Tate sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $114.77, for a total value of $275,448.00. Following the completion of the transaction, the senior vice president now owns 23,243 shares of the company’s stock, valued at $2,667,599.11. The trade was a 9.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial lifted their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark reissued a “buy” rating and set a $130.00 target price on shares of Belden in a research note on Monday, February 10th. Loop Capital cut their target price on shares of Belden from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $130.25.

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.