Southernsun Asset Management LLC Trims Stock Holdings in Belden Inc. (NYSE:BDC)

Southernsun Asset Management LLC reduced its holdings in Belden Inc. (NYSE:BDC) by 8.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 474,294 shares of the industrial products company’s stock after selling 41,427 shares during the quarter. Belden makes up 6.6% of Southernsun Asset Management LLC’s portfolio, making the stock its 2nd biggest position. Southernsun Asset Management LLC owned approximately 1.18% of Belden worth $55,554,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BDC. FMR LLC lifted its position in Belden by 14.8% in the 3rd quarter. FMR LLC now owns 4,486,337 shares of the industrial products company’s stock valued at $525,485,000 after purchasing an additional 576,768 shares during the last quarter. F M Investments LLC bought a new stake in Belden in the 2nd quarter valued at about $12,659,000. Foundry Partners LLC bought a new stake in shares of Belden during the 3rd quarter worth about $11,814,000. State Street Corp lifted its stake in shares of Belden by 6.8% in the 3rd quarter. State Street Corp now owns 1,574,784 shares of the industrial products company’s stock worth $184,532,000 after acquiring an additional 100,145 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Belden in the third quarter valued at approximately $82,320,000. 98.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on BDC shares. Truist Financial upped their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark boosted their price objective on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden presently has an average rating of “Buy” and an average target price of $122.75.

Insider Transactions at Belden

In related news, CAO Doug Zink sold 1,324 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total value of $155,556.76. Following the completion of the sale, the chief accounting officer now directly owns 9,643 shares in the company, valued at approximately $1,132,956.07. The trade was a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.59% of the stock is currently owned by company insiders.

Belden Price Performance

Shares of NYSE:BDC opened at $122.15 on Friday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 28.41 and a beta of 1.08. Belden Inc. has a 1 year low of $69.27 and a 1 year high of $131.82. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $119.86 and a 200 day simple moving average of $105.71.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. The company had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. Belden had a return on equity of 20.55% and a net margin of 7.61%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $1.78 EPS. As a group, sell-side analysts predict that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Thursday, December 12th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, December 12th. Belden’s dividend payout ratio is 4.65%.

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.