Bank of America Corp DE Invests $27.24 Million in Belden Inc $BDC

Key Points

• Bank of America acquired 227,167 Belden shares worth approximately $27.24 million, giving it a 0.58% stake. Institutional investors collectively own 98.75% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $156, despite Truist lowering its target to $145.
• Belden exceeded quarterly earnings expectations, reporting $2.34 in EPS versus $2.02 expected and $750.16 million in revenue. The company also declared a quarterly dividend of $0.05 per share, equal to a 0.2% annualized yield.

Bank of America Corp DE acquired a new position in shares of Belden Inc (NYSE:BDC - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 227,167 shares of the industrial products company's stock, valued at approximately $27,240,000. Bank of America Corp DE owned about 0.58% of Belden at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Belden in the 2nd quarter worth approximately $616,536,000. Geode Capital Management LLC grew its stake in Belden by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 1,007,189 shares of the industrial products company's stock worth $117,405,000 after buying an additional 25,829 shares during the last quarter. Norges Bank purchased a new stake in shares of Belden during the fourth quarter worth about $57,296,000. Fisher Asset Management LLC acquired a new position in shares of Belden during the fourth quarter valued at about $43,097,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Belden in the 2nd quarter valued at approximately $35,834,000. Hedge funds and other institutional investors own 98.75% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on BDC shares. Truist Financial reissued a "buy" rating and set a $145.00 target price (down from $155.00) on shares of Belden in a research report on Friday, July 31st. Fox Advisors raised shares of Belden from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 9th. Wall Street Zen lowered Belden from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. Citigroup began coverage on Belden in a report on Friday, June 26th. They set a "buy" rating and a $150.00 target price for the company. Finally, Weiss Ratings upgraded Belden from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

Belden Stock Up 1.1%

Shares of BDC stock opened at $114.31 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.49 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average of $118.02 and a 200 day moving average of $116.54. Belden Inc has a twelve month low of $98.00 and a twelve month high of $159.99. The stock has a market cap of $4.47 billion, a P/E ratio of 18.59 and a beta of 1.09.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.02 by $0.32. The company had revenue of $750.16 million for the quarter, compared to analyst estimates of $746.75 million. Belden had a net margin of 8.52% and a return on equity of 25.00%. The firm's revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $1.89 earnings per share. Belden has set its Q3 2026 guidance at 2.150-2.300 EPS. As a group, sell-side analysts expect that Belden Inc will post 8.69 EPS for the current year.

Belden Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Belden's payout ratio is presently 3.25%.

About Belden

Belden Inc NYSE: BDC is a global provider of signal transmission, connectivity and networking solutions. The company designs and manufactures products that help businesses transmit data, video and other signals across enterprise, industrial and broadcast environments.

Its offerings include copper and fiber-optic cable, connectivity components, networking equipment, industrial automation and control products, and solutions for data centers, commercial buildings and industrial facilities.

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