14,309 Shares in Belden Inc. (NYSE:BDC) Acquired by Private Client Services LLC

Private Client Services LLC bought a new position in shares of Belden Inc. (NYSE:BDC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,309 shares of the industrial products company's stock, valued at approximately $1,434,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Belden by 234.7% during the 4th quarter. Bank of America Corp DE now owns 224,363 shares of the industrial products company's stock worth $25,266,000 after purchasing an additional 157,335 shares during the last quarter. Norges Bank acquired a new position in shares of Belden during the 4th quarter valued at about $54,167,000. Polen Capital Management LLC acquired a new position in shares of Belden during the 4th quarter valued at about $2,723,000. Lighthouse Investment Partners LLC acquired a new position in shares of Belden during the 4th quarter valued at about $1,126,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Belden during the 4th quarter valued at about $443,000. Institutional investors and hedge funds own 98.75% of the company's stock.

Belden Trading Down 1.4%

NYSE BDC traded down $1.46 during trading hours on Friday, reaching $106.13. The company had a trading volume of 216,549 shares, compared to its average volume of 275,163. The stock has a 50-day moving average of $101.84 and a 200 day moving average of $110.08. Belden Inc. has a 1-year low of $83.18 and a 1-year high of $131.82. The company has a current ratio of 1.92, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $4.19 billion, a P/E ratio of 22.06 and a beta of 1.24.

Belden (NYSE:BDC - Get Free Report) last posted its 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 company had revenue of $624.86 million for the quarter, compared to analysts' expectations of $615.81 million. During the same quarter in the prior year, the company posted $1.24 earnings per share. Belden's revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts anticipate that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 12th will be given a $0.05 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. Belden's payout ratio is currently 3.86%.

Analyst Ratings Changes

BDC has been the topic of several recent research reports. The Goldman Sachs Group lowered their price target 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. Loop Capital lowered their price target on shares of Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Wall Street Zen cut shares of Belden from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 14th. Finally, Benchmark reissued a "buy" rating and set a $120.00 price target on shares of Belden in a research report on Monday, May 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $126.20.

Insider Buying and Selling at Belden

In other Belden news, Director Gregory James Mccray sold 4,200 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $105.21, for a total transaction of $441,882.00. Following the sale, the director now directly owns 4,199 shares in the company, valued at $441,776.79. This represents a 50.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Leah Tate sold 231 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total transaction of $26,250.84. Following 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 ownership of the stock. The disclosure for this sale can be found here. 1.48% of the stock is currently owned by corporate insiders.

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.