Moody National Bank Trust Division has decreased its holdings in Belden Inc. by 2.1% in the second quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The bank owned 12,335 shares of Belden’s stock after selling 262 shares during the period. The total value of Moody National Bank Trust Division’s holdings in Belden was $1,180,000 as of the most recent filing with the SEC.
Several other institutional investors have also made changes to their holdings in Belden. Quadrant Capital Group LLC increased its holdings in Belden by 97.2% in the fourth quarter. NewEdge Advisors LLC raised its stake in the company by 287.2% in the first quarter. Quarry LP increased its holdings by 153.6% in the first quarter. Point72 Hong Kong Ltd lifted its holdings in Belden by 88.0% in the first quarter. Additionally, Acadian Asset Management LLC acquired a new position in Belden during the first quarter.
Wall Street analysts have provided positive growth forecasts for Belden. The Goldman Sachs Group raised Belden’s rating from “neutral” to “buy” and increased their price target from $93.00 to $117.00. StockNews.com downgraded Belden from “strong-buy” to “buy,” and Truist Financial raised their price target from $107.00 to $118.00, giving the company a “buy” rating. One analyst has issued a “hold” rating for the stock, while five analysts have given it a “buy” rating. The stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.80, according to data from MarketBeat.
Belden’s CEO, Ashish Chand, recently sold 26,371 shares of the company’s stock. The shares were sold at an average price of $94.81, totaling $2,500,234.51. Chand now owns 45,682 shares of the company’s stock, valued at $4,331,110.42. This transaction was disclosed in a filing with the SEC.
Belden’s stock has decreased by 0.5% on the NYSE, opening at $96.91 on Friday. The company has a market capitalization of $4.10 billion and a P/E ratio of 14.46. Belden’s 12-month low is $58.53, and its 12-month high is $99.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.53, and a quick ratio of 1.92. Its 50-day simple moving average is $92.89, and its 200-day simple moving average is $88.34.
Belden reported higher-than-expected earnings for the second quarter, with an EPS of $1.91 compared to analysts’ consensus estimate of $1.75. The company’s quarterly revenue was $692.25 million, surpassing the consensus estimate of $687.49 million. Belden’s return on equity is 27.11%, and its net margin is 10.97%.
The company recently declared a quarterly dividend of $0.05 per share, with a payment date of October 5th. Investors of record on September 13th will be eligible for this dividend. The current dividend payout ratio is 2.99%.
Belden Inc. provides signal transmission solutions globally. Its offerings include copper and fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for various applications.
Sources:
– SEC filing
– MarketBeat.com
– HoldingsChannel.com
– StockNews.com