Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Belden Inc (NYSE:BDC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 51,679 shares of the industrial products company's stock, valued at approximately $5,181,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.13% of Belden as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC acquired a new position in Belden in the first quarter valued at approximately $35,000. Quarry LP raised its position in Belden by 208.7% in the fourth quarter. Quarry LP now owns 392 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 265 shares during the period. GAMMA Investing LLC raised its position in Belden by 34.7% in the first quarter. GAMMA Investing LLC now owns 446 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 115 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Belden in the 1st quarter valued at $47,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Belden during the 4th quarter worth $61,000. Institutional investors and hedge funds own 98.75% of the company's stock.
Belden Trading Down 1.2%
NYSE:BDC traded down $1.49 on Friday, reaching $124.10. 280,754 shares of the company's stock were exchanged, compared to its average volume of 284,210. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28. Belden Inc has a 52-week low of $83.18 and a 52-week high of $132.99. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average of $119.46 and a 200-day moving average of $110.22.
Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. Belden had a net margin of 8.60% and a return on equity of 23.29%. The firm had revenue of $671.99 million during the quarter, compared to analysts' expectations of $654.82 million. During the same quarter in the previous year, the business posted $1.51 earnings per share. The business's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, analysts expect that Belden Inc will post 7.07 earnings per share for the current year.
Belden Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.20 annualized dividend and a yield of 0.2%. Belden's dividend payout ratio is 3.62%.
Insiders Place Their Bets
In related news, SVP Brian Edward Anderson sold 7,158 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $130.51, for a total transaction of $934,190.58. Following the sale, the senior vice president directly owned 39,574 shares in the company, valued at approximately $5,164,802.74. This represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.48% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
BDC has been the subject of a number of recent analyst reports. Benchmark raised their price objective on Belden from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group reiterated a "buy" rating on shares of Belden in a research report on Friday, July 11th. Finally, Wall Street Zen lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 3rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $136.50.
Read Our Latest Report on Belden
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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