Entropy Technologies LP Purchases 2,595 Shares of Belden Inc (NYSE:BDC)

Key Points

• Entropy Technologies LP increased its stake in Belden Inc by 108.1%, acquiring 2,595 additional shares to hold a total of 4,995 shares valued at approximately $501,000.
• Belden Inc reported a Q2 EPS of $1.89, exceeding expectations, with a year-over-year revenue increase of 11.2%, resulting in a total revenue of $671.99 million.
• The company declared a quarterly dividend of $0.05 per share, which represents an annualized dividend yield of 0.2% with a payout ratio of 3.62%.

Entropy Technologies LP increased its position in Belden Inc (NYSE:BDC - Free Report) by 108.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,995 shares of the industrial products company's stock after buying an additional 2,595 shares during the period. Entropy Technologies LP's holdings in Belden were worth $501,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BDC. LPL Financial LLC boosted its holdings in Belden by 27.3% in the 4th quarter. LPL Financial LLC now owns 4,806 shares of the industrial products company's stock worth $541,000 after buying an additional 1,032 shares during the period. Wells Fargo & Company MN boosted its holdings in Belden by 13.7% in the 4th quarter. Wells Fargo & Company MN now owns 40,357 shares of the industrial products company's stock worth $4,545,000 after buying an additional 4,859 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Belden by 10.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 40,530 shares of the industrial products company's stock worth $4,564,000 after buying an additional 3,795 shares during the period. Russell Investments Group Ltd. boosted its holdings in Belden by 3.8% in the 4th quarter. Russell Investments Group Ltd. now owns 8,872 shares of the industrial products company's stock worth $999,000 after buying an additional 322 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Belden by 35.4% in the 4th quarter. Federated Hermes Inc. now owns 5,694 shares of the industrial products company's stock worth $641,000 after buying an additional 1,488 shares during the period. Institutional investors own 98.75% of the company's stock.

Belden Stock Up 2.2%

BDC opened at $127.66 on Thursday. The firm has a 50-day simple moving average of $119.16 and a two-hundred day simple moving average of $110.15. Belden Inc has a 52 week low of $83.18 and a 52 week high of $132.99. The company has a market capitalization of $5.06 billion, a PE ratio of 23.13 and a beta of 1.28. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 1.03.

Belden (NYSE:BDC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. Belden had a net margin of 8.60% and a return on equity of 23.29%. The business had revenue of $671.99 million during the quarter, compared to the consensus estimate of $654.82 million. During the same quarter in the prior year, the firm earned $1.51 EPS. The business's revenue was up 11.2% on a year-over-year basis. Analysts forecast that Belden Inc will post 7.07 earnings per share for the current fiscal year.

Belden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Thursday, June 12th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.2%. Belden's dividend payout ratio (DPR) is presently 3.62%.

Insider Activity at Belden

In related news, SVP Brian Edward Anderson sold 7,158 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $130.51, for a total value of $934,190.58. Following the completion of the transaction, the senior vice president owned 39,574 shares of the company's stock, valued at approximately $5,164,802.74. This trade represents a 15.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.48% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 3rd. Benchmark increased their price objective on shares of Belden from $130.00 to $145.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Belden in a report on Friday, July 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $136.50.

Belden Company Profile

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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