Retirement Systems of Alabama Sells 38,598 Shares of Belden Inc. (NYSE:BDC)

Retirement Systems of Alabama trimmed its holdings in Belden Inc. (NYSE:BDC) by 17.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 178,263 shares of the industrial products company’s stock after selling 38,598 shares during the period. Retirement Systems of Alabama’s holdings in Belden were worth $20,074,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 117 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in Belden by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 148 shares during the period. US Bancorp DE grew its holdings in Belden by 7.4% in the 3rd quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock valued at $327,000 after buying an additional 193 shares during the last quarter. First Horizon Advisors Inc. increased its position in Belden by 97.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after buying an additional 209 shares during the period. Finally, Matrix Trust Co bought a new position in Belden in the 3rd quarter worth approximately $25,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Down 1.0 %

BDC opened at $115.15 on Friday. The company has a market capitalization of $4.65 billion, a P/E ratio of 26.78 and a beta of 1.08. 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’s fifty day moving average price is $117.38 and its two-hundred day moving average price is $112.74. Belden Inc. has a fifty-two week low of $74.29 and a fifty-two week high of $131.82.

Belden (NYSE:BDC) last issued its earnings results on Thursday, February 6th. The industrial products company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. Belden had a net margin of 7.61% and a return on equity of 20.55%. On average, analysts anticipate that Belden Inc. will post 6.12 EPS for the current year.

Belden Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.17%. Belden’s dividend payout ratio is currently 4.65%.

Wall Street Analysts Forecast Growth

BDC has been the topic of several research analyst reports. Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of Belden in a research note on Friday, January 24th. StockNews.com lowered shares of Belden from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 2nd. Finally, Truist Financial upped their price objective on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden currently has an average rating of “Buy” and an average target price of $122.75.

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.