Hotchkis & Wiley Capital Management LLC Sells 6,880 Shares of Belden Inc. (NYSE:BDC)

Hotchkis & Wiley Capital Management LLC lessened its holdings in shares of Belden Inc. (NYSE:BDC) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 541,695 shares of the industrial products company’s stock after selling 6,880 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 1.34% of Belden worth $63,449,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in shares of Belden by 14.8% in the third 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 period. Renaissance Technologies LLC increased its position in shares of Belden by 15.8% during the 2nd quarter. Renaissance Technologies LLC now owns 313,063 shares of the industrial products company’s stock worth $29,365,000 after purchasing an additional 42,600 shares in the last quarter. Retirement Systems of Alabama increased its position in Belden by 2.1% in the second quarter. Retirement Systems of Alabama now owns 249,573 shares of the industrial products company’s stock worth $23,410,000 after purchasing an additional 5,209 shares during the period. Waters Parkerson & CO. LLC lifted its holdings in Belden by 2.2% during the second quarter. Waters Parkerson & CO. LLC now owns 214,322 shares of the industrial products company’s stock worth $20,103,000 after acquiring an additional 4,636 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in Belden by 60.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 167,430 shares of the industrial products company’s stock worth $15,705,000 after buying an additional 63,216 shares in the last quarter. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial increased their price target on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Benchmark raised their target price on shares of Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden currently has an average rating of “Buy” and a consensus target price of $122.75.

Belden Trading Up 1.2 %

Shares of BDC stock opened at $123.91 on Tuesday. The stock has a fifty day simple moving average of $119.37 and a two-hundred day simple moving average of $105.16. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.43 and a current ratio of 2.07. Belden Inc. has a 52-week low of $67.46 and a 52-week high of $131.82. The firm has a market capitalization of $5.00 billion, a PE ratio of 28.82 and a beta of 1.08.

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

Belden Announces Dividend

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

Insider Activity

In related news, CAO Doug Zink sold 3,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $128.82, for a total value of $386,460.00. Following the completion of the transaction, the chief accounting officer now owns 6,643 shares of the company’s stock, valued at approximately $855,751.26. This trade represents a 31.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.59% of the company’s stock.

Belden Company 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.