Novem Group purchased a new stake in Belden Inc (NYSE:BDC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,533 shares of the industrial products company's stock, valued at approximately $454,000.
A number of other institutional investors and hedge funds have also bought and sold shares of BDC. Proficio Capital Partners LLC acquired a new position in Belden in the 4th quarter valued at about $2,841,000. Arizona State Retirement System grew its position in shares of Belden by 1.1% during the 4th quarter. Arizona State Retirement System now owns 11,843 shares of the industrial products company's stock worth $1,334,000 after purchasing an additional 129 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Belden during the fourth quarter worth approximately $6,301,000. Ashton Thomas Private Wealth LLC raised its position in shares of Belden by 5.4% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,277 shares of the industrial products company's stock valued at $257,000 after buying an additional 116 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Belden in the fourth quarter valued at approximately $1,553,000. Institutional investors and hedge funds own 98.75% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on BDC shares. Wall Street Zen cut Belden from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Benchmark raised their price target on Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Finally, The Goldman Sachs Group cut their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $128.20.
View Our Latest Analysis on BDC
Insider Buying and Selling at Belden
In other Belden news, SVP Leah Tate sold 231 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total transaction of $26,250.84. Following the sale, the senior vice president owned 30,170 shares of the company's stock, valued at approximately $3,428,518.80. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.48% of the company's stock.
Belden Price Performance
Shares of BDC stock traded down $2.23 during trading hours on Monday, reaching $119.54. The company's stock had a trading volume of 211,284 shares, compared to its average volume of 271,141. The company has a quick ratio of 1.29, a current ratio of 1.93 and a debt-to-equity ratio of 0.96. Belden Inc has a fifty-two week low of $83.18 and a fifty-two week high of $131.82. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 23.08 and a beta of 1.24. The firm's 50 day simple moving average is $110.43 and its 200-day simple moving average is $108.56.
Belden (NYSE:BDC - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.12. The firm had revenue of $624.86 million for the quarter, compared to analysts' expectations of $615.81 million. Belden had a return on equity of 22.28% and a net margin of 8.35%. The business's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 earnings per share. Sell-side analysts forecast that Belden Inc will post 7.07 earnings per share for the current year.
Belden Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden's payout ratio is presently 3.86%.
About Belden
(
Free Report)
Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation 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 to the home, and building automation.
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