Teacher Retirement System of Texas Sells 4,739 Shares of Belden Inc $BDC

Teacher Retirement System of Texas lowered its stake in Belden Inc (NYSE:BDC) by 20.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,053 shares of the industrial products company’s stock after selling 4,739 shares during the quarter. Teacher Retirement System of Texas’ holdings in Belden were worth $2,171,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BDC. Verdence Capital Advisors LLC increased its stake in shares of Belden by 1.9% in the second quarter. Verdence Capital Advisors LLC now owns 4,223 shares of the industrial products company’s stock worth $489,000 after purchasing an additional 78 shares in the last quarter. Blue Trust Inc. grew its holdings in Belden by 6.0% during the 3rd quarter. Blue Trust Inc. now owns 2,038 shares of the industrial products company’s stock valued at $245,000 after buying an additional 116 shares in the last quarter. GAMMA Investing LLC increased its position in Belden by 30.9% in the second quarter. GAMMA Investing LLC now owns 584 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 138 shares during the last quarter. Captrust Financial Advisors grew its position in Belden by 3.8% in the second quarter. Captrust Financial Advisors now owns 3,904 shares of the industrial products company’s stock worth $452,000 after acquiring an additional 142 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in shares of Belden by 7.5% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,193 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Insider Buying and Selling at Belden

In other news, SVP Leah Tate sold 2,554 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $120.00, for a total value of $306,480.00. Following the completion of the sale, the senior vice president directly owned 27,835 shares of the company’s stock, valued at $3,340,200. This trade represents a 8.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Hiran Bhadra sold 1,600 shares of Belden stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $120.00, for a total transaction of $192,000.00. Following the sale, the senior vice president owned 26,119 shares of the company’s stock, valued at approximately $3,134,280. The trade was a 5.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,154 shares of company stock worth $1,371,050 in the last 90 days. Company insiders own 1.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BDC. Wall Street Zen upgraded shares of Belden from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Belden in a report on Wednesday, January 21st. Finally, Truist Financial upped their target price on Belden from $149.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Belden Stock Performance

NYSE BDC opened at $117.47 on Friday. The company has a market cap of $4.62 billion, a P/E ratio of 20.86 and a beta of 1.17. Belden Inc has a 1-year low of $83.18 and a 1-year high of $133.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.99 and a quick ratio of 1.37. The stock has a 50-day moving average of $117.76 and a two-hundred day moving average of $120.64.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. Belden had a return on equity of 23.95% and a net margin of 8.57%.The business had revenue of $698.22 million during the quarter, compared to the consensus estimate of $679.61 million. During the same period in the previous year, the company posted $1.70 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts anticipate that Belden Inc will post 7.07 EPS for the current year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Thursday, December 11th were paid a $0.05 dividend. The ex-dividend date was Thursday, December 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. Belden’s payout ratio is currently 3.55%.

Belden Profile

Belden, formerly Belden Inc (NYSE:BDC), was a global provider of signal transmission solutions for demanding applications. The company produced a wide range of copper and fiber optic cables, connectors, patch panels, cable assemblies, and surge protection devices. Its portfolio extended into networking and security hardware, including managed switches, industrial routers, and software tools for remote monitoring and network management.

Founded in 1902 and headquartered in St. Louis, Missouri, Belden built its reputation on delivering high‐performance, reliable products for harsh environments.