Seelaus Asset Management LLC Takes $270,000 Position in Belden Inc (NYSE:BDC)

Seelaus Asset Management LLC bought a new stake in Belden Inc (NYSE:BDC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,693 shares of the industrial products company's stock, valued at approximately $270,000.

Other institutional investors have also made changes to their positions in the company. FMR LLC grew its stake in Belden by 5.0% in the fourth quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock valued at $530,418,000 after acquiring an additional 223,887 shares during the period. Leigh Baldwin & CO. LLC acquired a new position in Belden in the fourth quarter valued at about $2,511,000. Bank of America Corp DE grew its stake in Belden by 234.7% in the fourth quarter. Bank of America Corp DE now owns 224,363 shares of the industrial products company's stock valued at $25,266,000 after acquiring an additional 157,335 shares during the period. Janus Henderson Group PLC grew its stake in Belden by 380.3% in the fourth quarter. Janus Henderson Group PLC now owns 166,354 shares of the industrial products company's stock valued at $18,726,000 after acquiring an additional 131,719 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Belden by 61.2% in the fourth quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company's stock valued at $33,212,000 after acquiring an additional 111,952 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BDC has been the topic of a number of research reports. Benchmark boosted their price target on Belden from $130.00 to $145.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen lowered Belden from a "strong-buy" rating to a "buy" rating in a report on Sunday. Finally, The Goldman Sachs Group restated 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 data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $136.50.

Belden Stock Performance

Shares of Belden stock traded down $0.22 on Tuesday, hitting $118.65. The stock had a trading volume of 252,466 shares, compared to its average volume of 348,964. Belden Inc has a twelve month low of $83.18 and a twelve month high of $132.99. The business's 50 day moving average is $117.40 and its two-hundred day moving average is $110.02. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 1.03. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 21.49 and a beta of 1.28.

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

Belden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th were paid a $0.05 dividend. The ex-dividend date was Thursday, June 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. Belden's dividend payout ratio (DPR) is currently 3.62%.

Insider Activity

In other news, SVP Leah Tate sold 231 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total value of $26,250.84. Following the completion of the sale, the senior vice president directly owned 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 SEC, which is available at this link. Also, SVP Brian Edward Anderson sold 7,158 shares of Belden 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 transaction, the senior vice president owned 39,574 shares of the company's stock, valued at $5,164,802.74. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.48% of the company's stock.

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.