Lighthouse Investment Partners LLC Invests $1.13 Million in Belden Inc. (NYSE:BDC)

Lighthouse Investment Partners LLC purchased a new position in shares of Belden Inc. (NYSE:BDC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,000 shares of the industrial products company's stock, valued at approximately $1,126,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Belden during the 4th quarter worth $54,167,000. Polen Capital Management LLC acquired a new position in Belden in the 4th quarter worth about $2,723,000. Dynamic Technology Lab Private Ltd acquired a new position in Belden in the 4th quarter worth about $443,000. Dark Forest Capital Management LP acquired a new position in Belden in the 4th quarter worth about $387,000. Finally, Barclays PLC increased its holdings in Belden by 189.4% in the 3rd quarter. Barclays PLC now owns 80,132 shares of the industrial products company's stock worth $9,386,000 after purchasing an additional 52,439 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company's stock.

Insider Activity

In related news, CEO Ashish Chand sold 14,535 shares of the company'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 owns 107,129 shares in the company, valued at $11,939,527.05. This represents a 11.95% decrease in their position. 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 company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $113.64, for a total value of $26,250.84. Following the sale, the senior vice president now owns 30,170 shares in the company, valued at approximately $3,428,518.80. The trade was a 0.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,259 shares of company stock valued at $2,340,577. Company insiders own 1.48% of the company's stock.

Belden Trading Down 0.7%

Shares of BDC stock opened at $113.09 on Thursday. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 23.51 and a beta of 1.24. The stock has a 50-day moving average of $100.38 and a 200-day moving average of $111.17. The company has a current ratio of 1.92, a quick ratio of 1.37 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 issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.12. The company had revenue of $624.86 million during the quarter, compared to analysts' expectations of $615.81 million. Belden had a return on equity of 21.42% and a net margin of 8.06%. The business's quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. On average, equities research analysts forecast that Belden Inc. will post 7.07 earnings per share for the current year.

Belden Dividend Announcement

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

Analyst Upgrades and Downgrades

BDC has been the subject of a number of recent research reports. StockNews.com cut Belden from a "strong-buy" rating to a "buy" rating in a report on Wednesday. The Goldman Sachs Group lowered their target price on Belden from $139.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Loop Capital lowered their target price on Belden from $155.00 to $145.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Finally, Benchmark reaffirmed a "buy" rating and issued a $120.00 target price on shares of Belden in a report on Monday, May 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belden has a consensus rating of "Buy" and a consensus target price of $126.20.

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.

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