5,035 Belden Inc $BDC Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC decreased its position in Belden Inc (NYSE:BDC) by 21.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,921 shares of the industrial products company’s stock after selling 5,035 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Belden were worth $1,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fairscale Capital LLC grew its holdings in Belden by 82.8% during the 3rd quarter. Fairscale Capital LLC now owns 799 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 362 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Belden by 6.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 6,026 shares of the industrial products company’s stock valued at $650,000 after purchasing an additional 365 shares during the period. Alps Advisors Inc. lifted its stake in shares of Belden by 31.1% in the 3rd quarter. Alps Advisors Inc. now owns 19,966 shares of the industrial products company’s stock valued at $2,155,000 after purchasing an additional 4,732 shares during the period. Covestor Ltd lifted its stake in shares of Belden by 90.1% in the 3rd quarter. Covestor Ltd now owns 498 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 236 shares during the period. Finally, Vise Technologies Inc. bought a new stake in shares of Belden during the 3rd quarter valued at about $280,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. DA Davidson raised their target price on Belden from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Jefferies Financial Group assumed coverage on Belden in a report on Wednesday. They issued a “hold” rating and a $114.00 target price for the company. Zacks Research lowered Belden from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. Wall Street Zen cut Belden from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Finally, Truist Financial restated a “buy” rating and set a $145.00 price target (down from $155.00) on shares of Belden in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Belden has an average rating of “Moderate Buy” and an average price target of $149.00.

Belden Trading Down 0.7%

NYSE:BDC opened at $104.18 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.24 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 23.41 and a beta of 1.16. The firm has a fifty day simple moving average of $109.33 and a two-hundred day simple moving average of $117.63. Belden Inc has a 12 month low of $94.75 and a 12 month high of $159.99.

Belden (NYSE:BDC) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.26 earnings per share for the quarter, meeting the consensus estimate of $2.26. Belden had a net margin of 5.62% and a return on equity of 25.06%. The firm had revenue of $965.95 million during the quarter, compared to the consensus estimate of $961.91 million. During the same period in the previous year, the firm posted $1.97 earnings per share. The business’s revenue was up 38.3% compared to the same quarter last year. Analysts expect that Belden Inc will post 8.66 EPS for the current fiscal year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Wednesday, September 16th were paid a $0.05 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. Belden’s dividend payout ratio (DPR) is currently 4.49%.

About Belden

Belden Inc. develops and supplies connectivity and networking solutions that help organizations transmit data, audio and video. Its products include copper and fiber-optic cable, connectors, and networking equipment used to build and manage communications networks. The company serves industrial, enterprise and broadcast markets. Its solutions support applications such as factory automation, enterprise networking and the production and distribution of audio and video content. Belden sells to customers in markets around the world.