Belden Inc. (NYSE:BDC) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its stake in Belden Inc. (NYSE:BDC) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,106 shares of the industrial products company’s stock after selling 837 shares during the period. Stifel Financial Corp’s holdings in Belden were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Matrix Trust Co acquired a new stake in shares of Belden in the 3rd quarter valued at about $25,000. GAMMA Investing LLC lifted its stake in Belden by 72.2% in 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 last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Belden in the third quarter valued at approximately $33,000. First Horizon Advisors Inc. grew its position in shares of Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 209 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Belden in the 2nd quarter valued at $95,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Benchmark increased their target price on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $122.75.

Insider Activity

In related news, CAO Doug Zink sold 3,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $128.82, for a total transaction of $386,460.00. Following the transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at $855,751.26. This represents a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.59% of the company’s stock.

Belden Stock Performance

NYSE:BDC opened at $113.74 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.07 and a quick ratio of 1.43. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 26.45 and a beta of 1.08. The firm’s fifty day moving average price is $120.51 and its 200 day moving average price is $107.63. Belden Inc. has a 1-year low of $71.20 and a 1-year high of $131.82.

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

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, December 12th. Belden’s dividend payout ratio (DPR) is 4.65%.

Belden Company 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.