Belden Inc $BDC Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in Belden Inc (NYSE:BDC) by 21.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,455 shares of the industrial products company’s stock after selling 52,800 shares during the period. Renaissance Technologies LLC’s holdings in Belden were worth $21,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Belden by 12,950.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 259 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Belden by 134.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 288 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 165 shares during the period. Fairscale Capital LLC purchased a new position in Belden during the 4th quarter worth approximately $51,000. Smartleaf Asset Management LLC increased its position in Belden by 32.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 437 shares of the industrial products company’s stock worth $52,000 after buying an additional 106 shares during the period. Finally, Torren Management LLC purchased a new stake in Belden in the fourth quarter valued at approximately $62,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.

Belden Price Performance

Shares of NYSE BDC opened at $102.07 on Thursday. The stock has a fifty day moving average price of $109.96 and a 200 day moving average price of $119.30. Belden Inc has a 1-year low of $98.00 and a 1-year high of $159.99. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.09 and a quick ratio of 1.40. The company has a market cap of $3.97 billion, a PE ratio of 17.18 and a beta of 1.12.

Belden (NYSE:BDC) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.07. Belden had a net margin of 8.49% and a return on equity of 24.47%. The company had revenue of $696.38 million during the quarter, compared to the consensus estimate of $677.03 million. During the same quarter in the prior year, the firm earned $1.60 EPS. Belden’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts forecast that Belden Inc will post 8.22 EPS for the current year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Tuesday, June 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 16th. Belden’s dividend payout ratio is currently 3.37%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BDC shares. DA Davidson began coverage on Belden in a report on Tuesday, June 16th. They issued a “buy” rating and a $155.00 price objective for the company. Truist Financial increased their price target on shares of Belden from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Fox Advisors raised shares of Belden from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Citigroup started coverage on shares of Belden in a report on Friday, June 26th. They issued a “buy” rating and a $150.00 target price for the company. Finally, Wall Street Zen raised Belden from a “hold” rating to a “buy” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $158.75.

About Belden

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.