Retirement Systems of Alabama Has $23.41 Million Position in Belden Inc. (NYSE:BDC)

Retirement Systems of Alabama raised its stake in Belden Inc. (NYSE:BDC) by 2.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 249,573 shares of the industrial products company’s stock after buying an additional 5,209 shares during the period. Retirement Systems of Alabama’s holdings in Belden were worth $23,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BDC. Opal Wealth Advisors LLC acquired a new position in shares of Belden in the second quarter valued at $28,000. Rise Advisors LLC acquired a new position in shares of Belden in the first quarter valued at about $32,000. Whittier Trust Co. grew its stake in shares of Belden by 662.2% in the first 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 in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Belden by 41.7% in the fourth 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 in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Belden in the fourth quarter valued at about $72,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BDC has been the topic of several research reports. Loop Capital upped their price target 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. Truist Financial upped their price target on shares of Belden from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. 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 issued a “buy” rating and a $110.00 price target on the stock. Finally, Benchmark upped their price target 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. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Belden has an average rating of “Moderate Buy” and an average target price of $111.67.

Insider Transactions at Belden

In other news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares of the company’s stock, valued at $3,298,001.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Brian Edward Anderson sold 6,556 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value of $658,615.76. Following the completion of the transaction, the senior vice president now owns 32,829 shares of the company’s stock, valued at $3,298,001.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Nancy E. Calderon sold 2,500 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.98, for a total transaction of $239,950.00. Following the completion of the transaction, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,837 shares of company stock valued at $1,356,183. 1.59% of the stock is currently owned by insiders.

Belden Price Performance

Belden stock traded up $2.69 during trading hours on Friday, reaching $106.69. 240,275 shares of the stock were exchanged, compared to its average volume of 271,980. The company has a market cap of $4.34 billion, a P/E ratio of 20.90 and a beta of 1.06. The company has a current ratio of 1.70, a quick ratio of 1.83 and a debt-to-equity ratio of 0.95. Belden Inc. has a twelve month low of $60.54 and a twelve month high of $107.02. The stock has a 50 day moving average of $95.55 and a two-hundred day moving average of $91.09.

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

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Thursday, September 12th will be issued a $0.05 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. Belden’s dividend payout ratio (DPR) is currently 3.91%.

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.