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Mirae Asset Global Investments Co. Ltd. Sells 10,953 Shares of Belden Inc. (NYSE:BDC)

Defense World · Sep 23, 2022 04:32

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Belden Inc. (NYSE:BDC – Get Rating) by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,718 shares of the industrial products company's stock after selling 10,953 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.25% of Belden worth $6,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Belden by 1.1% during the first quarter. Vanguard Group Inc. now owns 4,398,989 shares of the industrial products company's stock valued at $243,704,000 after purchasing an additional 48,838 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Belden by 11.4% in the first quarter. Victory Capital Management Inc. now owns 2,288,395 shares of the industrial products company's stock valued at $126,636,000 after buying an additional 233,574 shares during the period. Pzena Investment Management LLC lifted its holdings in Belden by 10.9% in the first quarter. Pzena Investment Management LLC now owns 1,867,145 shares of the industrial products company's stock valued at $103,440,000 after buying an additional 183,829 shares during the period. State Street Corp lifted its holdings in Belden by 4.6% in the first quarter. State Street Corp now owns 1,429,936 shares of the industrial products company's stock valued at $79,289,000 after buying an additional 62,728 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Belden by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,388,239 shares of the industrial products company's stock valued at $76,912,000 after buying an additional 7,963 shares during the period. 99.88% of the stock is owned by institutional investors.

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Insider Activity at Belden

In other news, Director Jonathan C. Klein sold 1,000 shares of Belden stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $66.90, for a total value of $66,900.00. Following the completion of the transaction, the director now owns 15,053 shares of the company's stock, valued at approximately $1,007,045.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Anshuman Mehrotra sold 4,000 shares of Belden stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $66.61, for a total value of $266,440.00. Following the completion of the transaction, the senior vice president now owns 16,402 shares of the company's stock, valued at approximately $1,092,537.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan C. Klein sold 1,000 shares of Belden stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $66.90, for a total transaction of $66,900.00. Following the completion of the transaction, the director now directly owns 15,053 shares of the company's stock, valued at approximately $1,007,045.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,424 shares of company stock valued at $1,294,844. Corporate insiders own 1.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BDC shares. TheStreet upgraded shares of Belden from a "c+" rating to a "b-" rating in a report on Thursday, May 26th. The Goldman Sachs Group increased their target price on shares of Belden from $59.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, August 4th. Finally, Truist Financial increased their price objective on shares of Belden from $67.00 to $77.00 in a research report on Thursday, August 4th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Belden currently has a consensus rating of "Buy" and an average target price of $78.50.

Belden Stock Down 2.4 %

Shares of BDC stock opened at $61.42 on Friday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 32.33 and a beta of 1.33. Belden Inc. has a 12-month low of $47.89 and a 12-month high of $70.97. The firm has a fifty day moving average of $65.50 and a 200-day moving average of $58.20. The company has a quick ratio of 1.72, a current ratio of 2.39 and a debt-to-equity ratio of 1.08.

Belden (NYSE:BDC – Get Rating) last released its earnings results on Wednesday, August 3rd. The industrial products company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.17. The business had revenue of $666.60 million during the quarter, compared to the consensus estimate of $633.68 million. Belden had a net margin of 3.37% and a return on equity of 25.73%. The firm's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, equities research analysts predict that Belden Inc. will post 6.04 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, October 6th. Investors of record on Thursday, September 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Wednesday, September 14th. Belden's dividend payout ratio (DPR) is currently 10.53%.

Belden Company Profile

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Belden Inc provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial 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, and home and building automation.