Hudson Bay Capital Management LP Takes $2.25 Million Position in Belden Inc. (NYSE:BDC)

Hudson Bay Capital Management LP bought a new position in Belden Inc. (NYSE:BDC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,000 shares of the industrial products company's stock, valued at approximately $2,252,000.

Several other large investors also recently modified their holdings of BDC. Norges Bank bought a new stake in shares of Belden during the 4th quarter valued at $54,167,000. FMR LLC raised its holdings in shares of Belden by 5.0% during the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock worth $530,418,000 after acquiring an additional 223,887 shares in the last quarter. Bank of America Corp DE lifted its position in Belden by 234.7% during 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 purchasing an additional 157,335 shares during the last quarter. JPMorgan Chase & Co. grew its position in Belden by 61.2% in the fourth quarter. JPMorgan Chase & Co. now owns 294,925 shares of the industrial products company's stock worth $33,212,000 after acquiring an additional 111,952 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Belden by 121.4% in the 4th quarter. Barclays PLC now owns 177,397 shares of the industrial products company's stock worth $19,977,000 after purchasing an additional 97,265 shares during the period. Institutional investors own 98.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BDC shares. Benchmark reaffirmed a "buy" rating and set a $120.00 target price on shares of Belden in a research note on Monday, May 5th. StockNews.com lowered shares of Belden from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 14th. Loop Capital lowered their price objective on Belden from $155.00 to $145.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group cut their price target on shares of Belden from $139.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Belden currently has a consensus rating of "Buy" and an average target price of $126.20.

Insider Transactions at Belden

In related news, CEO Ashish Chand sold 14,535 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $111.45, for a total transaction of $1,619,925.75. Following the sale, the chief executive officer now directly owns 107,129 shares in the company, valued at approximately $11,939,527.05. This trade represents a 11.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Leah Tate sold 231 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now directly owns 30,170 shares of the company's stock, valued at approximately $3,428,518.80. The trade was a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,259 shares of company stock valued at $2,340,577 in the last 90 days. 1.48% of the stock is currently owned by insiders.

Belden Stock Down 1.0%

NYSE BDC traded down $1.08 during trading on Monday, reaching $111.31. 17,204 shares of the company's stock were exchanged, compared to its average volume of 275,596. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.92. Belden Inc. has a 1 year low of $83.18 and a 1 year high of $131.82. The stock has a market cap of $4.40 billion, a P/E ratio of 23.14 and a beta of 1.24. The company has a 50 day moving average price of $100.80 and a two-hundred day moving average price of $111.01.

Belden (NYSE:BDC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.12. The firm 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%. Belden's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. On average, equities research analysts anticipate that Belden Inc. will post 7.07 EPS for the current fiscal year.

Belden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.18%. The ex-dividend date was Thursday, March 13th. Belden's payout ratio is currently 3.86%.

Belden 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.