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

Truist Financial Corp reduced its stake in shares of Belden Inc. (NYSE:BDC) by 10.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,042 shares of the industrial products company’s stock after selling 451 shares during the period. Truist Financial Corp’s holdings in Belden were worth $455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in Belden during the 3rd quarter worth about $33,000. First Horizon Advisors Inc. boosted its stake in shares of Belden by 97.7% during the 3rd 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 in the last quarter. Principal Securities Inc. boosted its stake in shares of Belden by 9.6% during the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company’s stock worth $135,000 after acquiring an additional 105 shares in the last quarter. KBC Group NV boosted its stake in shares of Belden by 27.8% during the 3rd quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock worth $148,000 after acquiring an additional 274 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Belden by 72.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,427 shares of the industrial products company’s stock worth $167,000 after acquiring an additional 599 shares in the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Belden from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 10th. Loop Capital lowered their target price on shares of Belden from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Benchmark reissued 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 given a strong buy rating to the company. According to data from MarketBeat.com, Belden presently has an average rating of “Buy” and an average target price of $130.25.

Belden Trading Down 3.4 %

Shares of Belden stock opened at $106.31 on Tuesday. The firm has a market capitalization of $4.28 billion, a PE ratio of 22.10 and a beta of 1.08. Belden Inc. has a twelve month low of $80.90 and a twelve month high of $131.82. The firm’s 50-day moving average price is $114.65 and its 200 day moving average price is $115.04. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

Belden (NYSE:BDC) last issued its quarterly earnings results 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 net margin of 8.06% and a return on equity of 21.42%. On average, sell-side analysts predict that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Thursday, March 13th. Belden’s dividend payout ratio is presently 4.16%.

Insider Activity at Belden

In other Belden news, Director Jonathan C. Klein sold 2,129 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $110.00, for a total value of $234,190.00. Following the transaction, the director now directly owns 9,968 shares of the company’s stock, valued at $1,096,480. This trade represents a 17.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Leah Tate sold 2,400 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 23,243 shares in the company, valued at $2,667,599.11. This trade represents a 9.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,228 shares of company stock valued at $2,147,892. 1.59% of the stock is owned by corporate insiders.

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.