Teacher Retirement System of Texas Acquires 10,559 Shares of Belden Inc. (NYSE:BDC)

Posted by on Jun 7th, 2023

Teacher Retirement System of Texas increased its position in Belden Inc. (NYSE:BDC – Get Rating) by 75.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,466 shares of the industrial products company’s stock after acquiring an additional 10,559 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Belden worth $1,759,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BDC. Bank of Montreal Can raised its holdings in Belden by 8.2% in the 1st quarter. Bank of Montreal Can now owns 15,131 shares of the industrial products company’s stock worth $867,000 after acquiring an additional 1,142 shares during the period. MetLife Investment Management LLC grew its position in Belden by 40.1% in the 1st quarter. MetLife Investment Management LLC now owns 52,012 shares of the industrial products company’s stock worth $2,881,000 after purchasing an additional 14,895 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in Belden in the 1st quarter worth $961,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Belden by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,455 shares of the industrial products company’s stock valued at $912,000 after acquiring an additional 1,569 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new stake in shares of Belden during the 1st quarter valued at about $762,000. Institutional investors own 99.88% of the company’s stock.

Insider Activity

In other news, Director Jonathan C. Klein sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $81.49, for a total value of $203,725.00. Following the completion of the transaction, the director now owns 11,553 shares in the company, valued at $941,453.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BDC. The Goldman Sachs Group lifted their target price on shares of Belden from $76.00 to $87.00 and gave the company a “neutral” rating in a research report on Thursday, February 9th. Benchmark boosted their target price on shares of Belden from $88.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, February 14th. Loop Capital boosted their target price on shares of Belden from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. StockNews.com downgraded shares of Belden from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 27th. Finally, Truist Financial boosted their target price on shares of Belden from $93.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Belden currently has a consensus rating of “Moderate Buy” and an average price target of $98.80.

Belden Trading Up 2.2 %

BDC opened at $90.12 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.70 and a quick ratio of 2.00. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 14.06 and a beta of 1.32. The firm has a 50 day simple moving average of $82.74 and a 200 day simple moving average of $81.39. Belden Inc. has a fifty-two week low of $47.89 and a fifty-two week high of $92.33.

Belden (NYSE:BDC – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.13. The business had revenue of $641.79 million during the quarter, compared to the consensus estimate of $624.46 million. Belden had a net margin of 10.69% and a return on equity of 26.83%. Belden’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, sell-side analysts anticipate that Belden Inc. will post 7.11 earnings per share for the current year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, June 14th. Belden’s dividend payout ratio (DPR) is presently 3.12%.

Belden Company Profile

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Belden, Inc engages in the provision of innovative signal transmission solutions. It operates through the Enterprise Solutions and Industrial Solutions segments. The Enterprise Solutions segment offers network infrastructure solutions, as well as cabling and connectivity solutions for broadcast, commercial audio/video, and security applications.

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Institutional Ownership by Quarter for Belden (NYSE:BDC)

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