Ameritas Investment Partners Inc. Has $1.24 Million Stake in Belden Inc. (NYSE:BDC)

Ameritas Investment Partners Inc. lowered its position in Belden Inc. (NYSE:BDC) by 1.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 13,361 shares of the industrial products company’s stock after selling 246 shares during the period. Ameritas Investment Partners Inc.’s holdings in Belden were worth $1,237,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd increased its stake in Belden by 33.9% during the 1st quarter. Covestor Ltd now owns 1,166 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 295 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Belden by 8.0% during the 1st quarter. First Eagle Investment Management LLC now owns 99,291 shares of the industrial products company’s stock valued at $9,195,000 after purchasing an additional 7,340 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Belden by 3.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,564 shares of the industrial products company’s stock worth $1,090,000 after acquiring an additional 420 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Belden by 3.1% in the 1st quarter. ProShare Advisors LLC now owns 9,524 shares of the industrial products company’s stock worth $882,000 after acquiring an additional 290 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Belden in the 1st quarter worth $1,086,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

NYSE BDC traded up $0.85 during trading on Tuesday, hitting $95.80. 200,786 shares of the company’s stock traded hands, compared to its average volume of 267,361. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 18.59 and a beta of 1.06. Belden Inc. has a 12-month low of $60.54 and a 12-month high of $99.07. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 2.55. The business has a 50 day moving average of $94.56 and a 200-day moving average of $87.38.

Belden (NYSE:BDC) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.19. Belden had a net margin of 9.01% and a return on equity of 23.11%. The firm had revenue of $536.00 million for the quarter, compared to the consensus estimate of $514.27 million. During the same period in the prior year, the firm posted $1.68 earnings per share. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. As a group, equities research analysts anticipate that Belden Inc. will post 5.85 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Thursday, June 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Thursday, June 13th. Belden’s payout ratio is 3.91%.

Insider Buying and Selling

In related news, EVP Brian Lieser sold 819 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the transaction, the executive vice president now directly owns 21,031 shares in the company, valued at $1,919,289.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 $1,919,289.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan C. Klein sold 1,093 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $95.50, for a total transaction of $104,381.50. Following the completion of the transaction, the director now owns 13,704 shares in the company, valued at approximately $1,308,732. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,219 shares of company stock worth $986,641. Insiders own 1.59% of the company’s stock.

Analyst Upgrades and Downgrades

BDC has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of Belden from $119.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, July 5th. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. Loop Capital increased their price target on shares of Belden from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Benchmark restated a “buy” rating and set a $100.00 price target on shares of Belden in a research report on Monday, May 6th. Finally, Vertical Research started coverage on shares of Belden in a research report on Tuesday. They set a “buy” rating and a $110.00 price target for the company. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $109.00.

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.