NBC Securities Inc. Increases Position in Belden Inc. (NYSE:BDC)

NBC Securities Inc. grew its position in shares of Belden Inc. (NYSE:BDC - Free Report) by 101,230.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,133 shares of the industrial products company's stock after purchasing an additional 10,123 shares during the period. NBC Securities Inc.'s holdings in Belden were worth $1,015,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in Belden by 189.4% during the 3rd quarter. Barclays PLC now owns 80,132 shares of the industrial products company's stock valued at $9,386,000 after purchasing an additional 52,439 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Belden by 4.4% during the 4th quarter. Pacer Advisors Inc. now owns 6,973 shares of the industrial products company's stock valued at $785,000 after purchasing an additional 295 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Belden in the 4th quarter worth $270,000. Principal Securities Inc. boosted its stake in shares of Belden by 9.6% in the 4th quarter. Principal Securities Inc. now owns 1,202 shares of the industrial products company's stock worth $135,000 after buying an additional 105 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Belden by 0.3% in the 4th quarter. Principal Financial Group Inc. now owns 107,967 shares of the industrial products company's stock worth $12,158,000 after purchasing an additional 307 shares during the period. Institutional investors own 98.75% of the company's stock.

Analysts Set New Price Targets

BDC has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their price target on Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wall Street Zen cut Belden from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 14th. Loop Capital cut their target price on Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Finally, Benchmark reiterated a "buy" rating and issued a $120.00 price target on shares of Belden in a report on Monday, May 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $126.20.

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 transaction of $26,250.84. Following the completion of the sale, the senior vice president now owns 30,170 shares in the company, valued at $3,428,518.80. This trade represents a 0.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.48% of the company's stock.

Belden Price Performance

NYSE BDC traded up $2.40 on Thursday, hitting $110.47. The company had a trading volume of 348,210 shares, compared to its average volume of 274,915. 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 company's fifty day moving average price is $102.06 and its 200-day moving average price is $109.89. The company has a market capitalization of $4.36 billion, a PE ratio of 22.97 and a beta of 1.23. Belden Inc. has a 12-month low of $83.18 and a 12-month high of $131.82.

Belden (NYSE:BDC - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.12. The business had revenue of $624.86 million during the quarter, compared to analysts' expectations of $615.81 million. Belden had a net margin of 8.06% and a return on equity of 21.42%. The company's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.24 earnings per share. As a group, analysts predict that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th will be issued 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 dividend yield of 0.18%. Belden's dividend payout ratio is currently 3.86%.

About Belden

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.