GAMMA Investing LLC increased its holdings in shares of Belden Inc. (NYSE:BDC - Free Report) by 13,408.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,712 shares of the industrial products company's stock after acquiring an additional 44,381 shares during the quarter. GAMMA Investing LLC owned about 0.11% of Belden worth $4,482,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of BDC. Aster Capital Management DIFC Ltd bought a new position in Belden in the 4th quarter valued at about $26,000. Quarry LP increased its stake in shares of 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 acquiring an additional 265 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Belden in the 4th quarter valued at $61,000. First Horizon Advisors Inc. increased its stake in shares of Belden by 49.9% in the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company's stock valued at $71,000 after acquiring an additional 211 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in Belden by 31.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 199 shares in the last quarter. 98.75% of the stock is owned by institutional investors.
Belden Price Performance
NYSE BDC traded down $3.38 on Friday, reaching $107.39. 253,930 shares of the company's stock traded hands, compared to its average volume of 274,433. Belden Inc. has a 12 month low of $83.18 and a 12 month high of $131.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. The stock has a 50-day simple moving average of $104.25 and a 200 day simple moving average of $109.38. The stock has a market cap of $4.24 billion, a PE ratio of 22.33 and a beta of 1.23.
Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.48 by $0.12. Belden had a net margin of 8.06% and a return on equity of 21.42%. The business had revenue of $624.86 million for the quarter, compared to analysts' expectations of $615.81 million. During the same period last year, the business earned $1.24 earnings per share. The business's quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts predict that Belden Inc. will post 7.07 earnings per share for the current year.
Belden Announces Dividend
The firm 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date is Thursday, June 12th. Belden's payout ratio is currently 3.86%.
Insider Transactions at Belden
In other news, SVP Leah Tate sold 231 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now owns 30,170 shares in the company, valued at approximately $3,428,518.80. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.48% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on BDC. Benchmark reiterated a "buy" rating and issued a $120.00 target price on shares of Belden in a research note on Monday, May 5th. The Goldman Sachs Group dropped their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Wall Street Zen downgraded shares of Belden from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden has a consensus rating of "Buy" and an average price target of $126.20.
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Belden Company 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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