Wedge Capital Management L L P NC Sells 11,212 Shares of Belden Inc. (NYSE:BDC)

Wedge Capital Management L L P NC reduced its stake in shares of Belden Inc. (NYSE:BDC) by 19.0% in the second quarter, according to its most recent filing with the SEC. The fund 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 owned approximately 0.12% of Belden worth $4,491,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Dynamic Advisor Solutions LLC bought a new stake in shares of Belden during the 2nd quarter worth $371,000. Twelve Points Wealth Management LLC lifted its holdings in shares of Belden by 7.9% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 21,460 shares of the industrial products company’s stock worth $2,013,000 after acquiring an additional 1,564 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Belden by 1.4% during the 2nd quarter. SG Americas Securities LLC now owns 34,116 shares of the industrial products company’s stock worth $3,200,000 after acquiring an additional 481 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Belden during the 2nd quarter worth $28,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Belden by 269.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,827 shares of the industrial products company’s stock worth $1,391,000 after acquiring an additional 10,819 shares during the last quarter. 98.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

BDC has been the subject of several recent research reports. Truist Financial boosted their price target on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Benchmark boosted their price target on shares of Belden from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com raised 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 for the company. Finally, Loop Capital boosted their price target on shares of Belden from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Belden presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.67.

Belden Trading Up 2.0 %

Shares of BDC stock traded up $1.94 during mid-day trading on Thursday, reaching $100.40. The stock had a trading volume of 410,848 shares, compared to its average volume of 273,997. The stock’s 50-day moving average price is $94.48 and its two-hundred day moving average price is $89.86. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $102.47. The firm has a market capitalization of $4.08 billion, a PE ratio of 19.65 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 (NYSE:BDC) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $604.34 million for the quarter, compared to analysts’ expectations of $574.32 million. During the same quarter in the previous year, the company earned $1.91 earnings per share. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. Equities analysts expect that Belden Inc. will post 5.85 earnings per share for the current fiscal year.

Belden Dividend Announcement

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

Insider Activity at Belden

In related news, Director David J. Aldrich sold 6,700 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $97.19, for a total transaction of $651,173.00. Following the transaction, the director now owns 53,396 shares in the company, valued at $5,189,557.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Belden news, SVP Brian Edward Anderson sold 1,262 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $96.79, for a total value of $122,148.98. Following the sale, the senior vice president now owns 39,385 shares in the company, valued at $3,812,074.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David J. Aldrich sold 6,700 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $97.19, for a total transaction of $651,173.00. Following the completion of the sale, the director now owns 53,396 shares in the company, valued at approximately $5,189,557.24. The disclosure for this sale can be found here. Insiders have sold 20,537 shares of company stock worth $2,007,356 over the last 90 days. 1.59% of the stock is owned by company insiders.

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.