Belden Inc. (NYSE:BDC) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its stake in Belden Inc. (NYSE:BDC) by 19.0% in the second quarter, Holdings Channel reports. The firm owned 47,878 shares of the industrial products company’s stock after selling 11,212 shares during the period. Wedge Capital Management L L P NC’s holdings in Belden were worth $4,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in Belden in the 2nd quarter worth approximately $28,000. Whittier Trust Co. lifted its stake in Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 298 shares during the period. Rise Advisors LLC acquired a new stake in Belden during the 1st quarter valued at approximately $32,000. Quadrant Capital Group LLC lifted its stake in Belden by 41.7% during the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 244 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Belden during the 4th quarter valued at approximately $72,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Belden

In other Belden news, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the transaction, the executive vice president now owns 21,031 shares in the company, valued at approximately $1,919,289.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Belden news, EVP Brian Lieser sold 819 shares of Belden stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total transaction of $74,741.94. Following the sale, the executive vice president now owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the sale, the senior vice president now directly 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 20,537 shares of company stock valued at $2,007,356 over the last quarter. 1.59% of the stock is currently owned by insiders.

Belden Price Performance

Shares of BDC stock traded up $1.94 during trading hours on Thursday, hitting $100.40. 410,848 shares of the company’s stock were exchanged, compared to its average volume of 273,997. Belden Inc. has a fifty-two week low of $60.54 and a fifty-two week high of $102.47. The firm has a market cap of $4.08 billion, a P/E ratio of 19.65 and a beta of 1.06. The company has a quick ratio of 1.83, a current ratio of 1.70 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $94.48 and a two-hundred day moving average of $89.86.

Belden (NYSE:BDC) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. Belden had a net margin of 8.51% and a return on equity of 21.13%. The company had revenue of $604.34 million during the quarter, compared to analysts’ expectations of $574.32 million. During the same period in the prior year, the business posted $1.91 earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. Sell-side analysts forecast that Belden Inc. will post 5.85 EPS for the current year.

Belden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Thursday, June 13th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.20 annualized dividend and a yield of 0.20%. Belden’s dividend payout ratio (DPR) is currently 3.91%.

Analyst Upgrades and Downgrades

BDC has been the subject of several research reports. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Vertical Research initiated coverage on shares of Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective for the company. Benchmark lifted their price objective on shares of Belden from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Loop Capital boosted their target price on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Truist Financial increased their price target on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.67.

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.