Novem Group purchased a new stake in Belden Inc (NYSE:BDC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,533 shares of the industrial products company's stock, valued at approximately $454,000.
Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Belden in the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in Belden in the 1st quarter valued at approximately $35,000. Quarry LP raised its holdings in Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company's stock valued at $44,000 after buying an additional 265 shares during the last quarter. GAMMA Investing LLC raised its holdings in Belden by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock valued at $45,000 after buying an additional 115 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Belden in the 4th quarter valued at approximately $61,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on BDC. Benchmark raised their price objective on shares of Belden from $120.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. The Goldman Sachs Group dropped their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Wall Street Zen lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $128.20.
Get Our Latest Stock Analysis on Belden
Belden Trading Up 1.1%
Belden stock traded up $1.36 during mid-day trading on Friday, hitting $121.77. 116,711 shares of the stock were exchanged, compared to its average volume of 271,079. 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 12 month low of $83.18 and a 12 month high of $131.82. The firm's fifty day simple moving average is $110.08 and its two-hundred day simple moving average is $108.60. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 23.51 and a beta of 1.24.
Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.12. Belden had a net margin of 8.35% and a return on equity of 22.28%. The firm had revenue of $624.86 million during the quarter, compared to analyst estimates of $615.81 million. During the same quarter last year, the business earned $1.24 EPS. The company's revenue was up 16.6% compared to the same quarter last year. Analysts forecast that Belden Inc will post 7.07 EPS for the current year.
Belden Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.16%. Belden's dividend payout ratio is currently 3.86%.
Insider Buying and Selling at Belden
In other news, SVP Leah Tate sold 231 shares of Belden stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total value of $26,250.84. Following the completion of the sale, the senior vice president owned 30,170 shares in the company, valued at $3,428,518.80. The trade was a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.48% of the stock is owned by corporate insiders.
Belden Profile
(
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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