GAMMA Investing LLC increased its holdings in shares of Belden Inc. (NYSE:BDC - Free Report) by 13,408.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 44,712 shares of the industrial products company's stock after acquiring an additional 44,381 shares during the period. GAMMA Investing LLC owned about 0.11% of Belden worth $4,482,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Belden during the fourth quarter worth $26,000. Quarry LP increased its stake in Belden by 208.7% in the 4th quarter. Quarry LP now owns 392 shares of the industrial products company's stock worth $44,000 after buying an additional 265 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Belden during the 4th quarter valued at about $61,000. First Horizon Advisors Inc. lifted its holdings in Belden by 49.9% during the 4th quarter. First Horizon Advisors Inc. now owns 634 shares of the industrial products company's stock valued at $71,000 after buying an additional 211 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Belden by 31.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 835 shares of the industrial products company's stock valued at $94,000 after buying an additional 199 shares during the period. Hedge funds and other institutional investors own 98.75% of the company's stock.
Insider Activity
In other news, SVP Leah Tate sold 231 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following the transaction, the senior vice president now directly owns 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.48% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently commented on BDC. The Goldman Sachs Group reduced their target price on shares of Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Benchmark reissued a "buy" rating and issued a $120.00 price objective on shares of Belden in a research note on Monday, May 5th. Finally, Wall Street Zen lowered Belden from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $126.20.
Check Out Our Latest Stock Report on Belden
Belden Stock Down 0.6%
BDC stock traded down $0.71 during trading on Thursday, hitting $110.46. 23,920 shares of the company's stock traded hands, compared to its average volume of 274,315. The firm has a market capitalization of $4.36 billion, a P/E ratio of 22.96 and a beta of 1.23. The business has a fifty day simple moving average of $103.42 and a two-hundred day simple moving average of $109.59. The company has a quick ratio of 1.37, a current ratio of 1.92 and a debt-to-equity ratio of 0.87. Belden Inc. has a 1 year low of $83.18 and a 1 year high of $131.82.
Belden (NYSE:BDC - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.12. Belden had a return on equity of 21.42% and a net margin of 8.06%. The company had revenue of $624.86 million during the quarter, compared to analyst estimates of $615.81 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. Belden's revenue was up 16.6% on a year-over-year basis. Sell-side analysts anticipate that Belden Inc. will post 7.07 EPS for the current year.
Belden Dividend Announcement
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. This represents a $0.20 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Thursday, June 12th. Belden's payout ratio is 3.86%.
Belden Company Profile
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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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