American International Group Inc. Has $6.98 Million Stock Position in Belden Inc. (NYSE:BDC)

American International Group Inc. reduced its position in shares of Belden Inc. (NYSE:BDC) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,379 shares of the industrial products company’s stock after selling 1,727 shares during the quarter. American International Group Inc. owned about 0.19% of Belden worth $6,981,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BDC. Rise Advisors LLC acquired a new position in Belden during the 1st quarter worth approximately $32,000. Whittier Trust Co. raised 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 worth $32,000 after buying an additional 298 shares during the period. Quadrant Capital Group LLC raised 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 worth $64,000 after buying an additional 244 shares during the period. Principal Securities Inc. purchased a new stake in shares of Belden in the fourth quarter worth approximately $72,000. Finally, TFO Wealth Partners LLC raised its stake in shares of Belden by 33,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 1,005 shares during the last quarter. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jonathan C. Klein sold 1,093 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $95.50, for a total value of $104,381.50. Following the completion of the transaction, the director now directly owns 13,704 shares in the company, valued at approximately $1,308,732. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Brian Lieser sold 819 shares of Belden stock in a transaction that occurred 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 in the company, valued at $1,919,289.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jonathan C. Klein sold 1,093 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $95.50, for a total transaction of $104,381.50. Following the transaction, the director now owns 13,704 shares of the company’s stock, valued at approximately $1,308,732. The disclosure for this sale can be found here. Insiders sold a total of 10,219 shares of company stock worth $986,641 in the last three months. Insiders own 1.59% of the company’s stock.

Belden Trading Up 0.1 %

NYSE BDC opened at $92.55 on Friday. The stock’s 50-day simple moving average is $94.54 and its two-hundred day simple moving average is $87.60. Belden Inc. has a twelve month low of $60.54 and a twelve month high of $99.07. The company has a quick ratio of 1.83, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 18.11 and a beta of 1.05.

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

Belden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Thursday, June 13th were given a $0.05 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.22%. Belden’s dividend payout ratio is currently 3.91%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BDC. StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Loop Capital increased their price objective on Belden from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 17th. Benchmark reissued a “buy” rating and set a $100.00 price objective on shares of Belden in a report on Monday, May 6th. Truist Financial increased their price objective on Belden from $119.00 to $123.00 and gave the company a “buy” rating in a report on Friday, July 5th. Finally, Vertical Research started coverage on Belden in a report on Tuesday. They set a “buy” rating and a $110.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Belden presently has a consensus rating of “Moderate Buy” and an average target price 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.