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

Knights of Columbus Asset Advisors LLC lessened its position in Belden Inc (NYSE:BDC) by 21.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in shares of Belden by 10.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,127 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 102 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Belden by 25.7% during the third quarter. GAMMA Investing LLC now owns 587 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 120 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Belden by 39.8% during the third quarter. Signaturefd LLC now owns 587 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 167 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of Belden by 2.2% in the first quarter. State of Michigan Retirement System now owns 9,498 shares of the industrial products company’s stock valued at $1,091,000 after buying an additional 200 shares during the period. Finally, Ancora Advisors LLC acquired a new position in shares of Belden in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Trading Down 0.7%

NYSE BDC opened at $104.18 on Thursday. The business’s 50-day moving average price is $109.33 and its two-hundred day moving average price is $117.63. Belden Inc has a 12 month low of $94.75 and a 12 month high of $159.99. The firm has a market capitalization of $4.07 billion, a PE ratio of 23.41 and a beta of 1.16. The company has a current ratio of 1.82, a quick ratio of 1.24 and a debt-to-equity ratio of 2.18.

Belden (NYSE:BDC) last issued 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 return on equity of 25.06% and a net margin of 5.62%. The company had revenue of $965.95 million during the quarter, compared to analysts’ expectations of $961.91 million. During the same quarter in the prior year, the firm posted $1.97 earnings per share. The business’s quarterly revenue was up 38.3% on a year-over-year basis. On average, analysts expect that Belden Inc will post 8.66 EPS for the current year.

Belden Dividend Announcement

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

Wall Street Analysts Forecast Growth

BDC has been the subject of a number of research reports. Truist Financial reiterated a “buy” rating and issued a $145.00 price objective (down from $155.00) on shares of Belden in a report on Friday, July 31st. Zacks Research lowered shares of Belden from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. DA Davidson upped their price target on shares of Belden from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Wall Street Zen cut shares of Belden from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Finally, Jefferies Financial Group started coverage on shares of Belden in a research note on Wednesday. They set a “hold” rating and a $114.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.00.

Belden Company Profile

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.