Segall Bryant & Hamill LLC Trims Stock Holdings in Belden Inc. (NYSE:BDC)

Segall Bryant & Hamill LLC cut its holdings in shares of Belden Inc. (NYSE:BDC) by 17.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 476,352 shares of the industrial products company’s stock after selling 98,476 shares during the quarter. Belden comprises 0.8% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 15th biggest position. Segall Bryant & Hamill LLC’s holdings in Belden were worth $55,795,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BDC. GAMMA Investing LLC lifted its stake in shares of Belden by 72.2% in the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the period. Verdence Capital Advisors LLC raised its holdings in Belden by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,465 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 148 shares during the period. US Bancorp DE boosted its position in Belden by 7.4% during the third quarter. US Bancorp DE now owns 2,794 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 193 shares in the last quarter. Matrix Trust Co acquired a new stake in Belden in the third quarter valued at approximately $25,000. Finally, State of Alaska Department of Revenue increased its position in shares of Belden by 0.6% in the third quarter. State of Alaska Department of Revenue now owns 34,742 shares of the industrial products company’s stock valued at $4,068,000 after buying an additional 215 shares in the last quarter. 98.75% of the stock is owned by hedge funds and other institutional investors.

Belden Stock Performance

BDC opened at $118.57 on Wednesday. Belden Inc. has a twelve month low of $65.52 and a twelve month 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 firm has a market capitalization of $4.78 billion, a PE ratio of 27.57 and a beta of 1.07. The firm’s 50-day moving average price is $116.65 and its 200 day moving average price is $103.45.

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

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Thursday, September 12th. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BDC. Truist Financial increased their target price on Belden from $124.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Benchmark lifted their target price on shares of Belden from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Vertical Research initiated coverage on shares of Belden in a research report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Belden currently has a consensus rating of “Buy” and an average target price of $122.75.

Insider Buying and Selling at Belden

In related news, CAO Doug Zink sold 3,000 shares of Belden stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 6,643 shares in the company, valued at approximately $855,751.26. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.59% of the company’s stock.

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.