Public Employees Retirement Association of Colorado Buys 63,216 Shares of Belden Inc. (NYSE:BDC)

Public Employees Retirement Association of Colorado grew its position in Belden Inc. (NYSE:BDC) by 60.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 167,430 shares of the industrial products company’s stock after acquiring an additional 63,216 shares during the period. Public Employees Retirement Association of Colorado owned 0.41% of Belden worth $15,705,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of Belden by 198.4% during the first quarter. Tidal Investments LLC now owns 12,286 shares of the industrial products company’s stock worth $1,138,000 after purchasing an additional 8,169 shares during the last quarter. Gendell Jeffrey L increased its position in Belden by 59.0% in the 4th quarter. Gendell Jeffrey L now owns 53,882 shares of the industrial products company’s stock valued at $4,162,000 after acquiring an additional 20,000 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Belden by 8.0% during 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 acquiring an additional 7,340 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Belden by 17.9% during the fourth quarter. Wellington Management Group LLP now owns 985,282 shares of the industrial products company’s stock worth $76,113,000 after purchasing an additional 149,263 shares during the period. Finally, Invenomic Capital Management LP bought a new stake in shares of Belden in the fourth quarter worth $4,445,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Price Performance

Belden stock opened at $112.43 on Friday. The stock’s 50 day moving average price is $99.62 and its two-hundred day moving average price is $93.87. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 21.66 and a beta of 1.07. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.25 and a current ratio of 1.70. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $112.87.

Belden (NYSE:BDC) last posted its quarterly earnings results 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. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm had revenue of $604.34 million during the quarter, compared to the consensus estimate of $574.32 million. During the same period in the previous year, the firm posted $1.91 earnings per share. The business’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts predict that Belden Inc. will post 6.04 earnings per share for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be paid a $0.05 dividend. 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 (DPR) is presently 3.91%.

Analysts Set New Price Targets

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

Insider Activity

In related news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total value of $658,615.76. Following the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at approximately $3,298,001.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Brian Lieser sold 819 shares of Belden stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the completion of the transaction, the executive vice president now directly owns 21,031 shares in the company, valued at $1,919,289.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Edward Anderson sold 6,556 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 in the company, valued at approximately $3,298,001.34. The disclosure for this sale can be found here. Insiders sold a total of 11,137 shares of company stock worth $1,095,457 over the last quarter. 1.59% of the stock is currently owned by corporate insiders.

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.