Leeward Investments LLC MA lifted its stake in shares of Belden Inc (NYSE:BDC - Free Report) by 16.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,025 shares of the industrial products company's stock after buying an additional 11,171 shares during the period. Leeward Investments LLC MA owned about 0.20% of Belden worth $7,922,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Belden during the fourth quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Belden during the first quarter worth $35,000. Quarry LP increased its holdings in shares of Belden by 208.7% during the fourth quarter. Quarry LP now owns 392 shares of the industrial products company's stock worth $44,000 after buying an additional 265 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Belden by 34.7% during the first quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock worth $45,000 after buying an additional 115 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Belden during the fourth quarter worth $61,000. 98.75% of the stock is currently owned by institutional investors and hedge funds.
Belden Trading Up 1.1%
Shares of Belden stock traded up $1.36 during trading on Friday, hitting $121.77. The company's stock had a trading volume of 116,711 shares, compared to its average volume of 271,382. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.93 and a quick ratio of 1.29. Belden Inc has a 52 week low of $83.18 and a 52 week high of $131.82. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 23.51 and a beta of 1.24. The stock has a 50-day moving average price of $110.08 and a two-hundred day moving average price of $108.52.
Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.60 earnings per share 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 company had revenue of $624.86 million for the quarter, compared to analysts' expectations of $615.81 million. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Belden's revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts anticipate that Belden Inc will post 7.07 EPS for the current fiscal year.
Belden Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.16%. Belden's dividend payout ratio (DPR) is currently 3.86%.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on BDC shares. Benchmark upped their price target on shares of Belden from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Wall Street Zen downgraded shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Finally, The Goldman Sachs Group reduced their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden currently has an average rating of "Buy" and a consensus price target of $128.20.
Read Our Latest Stock Report on BDC
Insider Buying and Selling
In other Belden news, SVP Leah Tate sold 231 shares of the company'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. This represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.48% of the company's stock.
About Belden
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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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