Thoroughbred Financial Services LLC Makes New $254,000 Investment in Belden Inc. (NYSE:BDC)

Thoroughbred Financial Services LLC acquired a new stake in shares of Belden Inc. (NYSE:BDC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,717 shares of the industrial products company’s stock, valued at approximately $254,000.

Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in Belden by 6.5% during the 4th quarter. Russell Investments Group Ltd. now owns 7,096 shares of the industrial products company’s stock valued at $548,000 after acquiring an additional 435 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Belden by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 495,693 shares of the industrial products company’s stock valued at $38,292,000 after purchasing an additional 7,827 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Belden during the fourth quarter valued at approximately $72,000. Principal Financial Group Inc. boosted its position in shares of Belden by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 168,098 shares of the industrial products company’s stock worth $12,986,000 after purchasing an additional 977 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Belden by 41.7% in the 4th quarter. Quadrant Capital Group LLC now owns 829 shares of the industrial products company’s stock worth $64,000 after buying an additional 244 shares during the last quarter. Institutional investors own 98.75% of the company’s stock.

Belden Stock Performance

Shares of NYSE BDC opened at $106.31 on Wednesday. The firm’s 50-day moving average price is $98.70 and its 200-day moving average price is $93.53. Belden Inc. has a 52-week low of $60.54 and a 52-week high of $108.64. The company has a market cap of $4.32 billion, a PE ratio of 20.80 and a beta of 1.07. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.95.

Belden (NYSE:BDC) last posted its earnings results on Thursday, August 1st. The industrial products company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. The business had revenue of $604.34 million during the quarter, compared to the consensus estimate of $574.32 million. Belden had a net margin of 8.51% and a return on equity of 21.13%. The firm’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.91 EPS. As a group, analysts anticipate that Belden Inc. will post 6.04 EPS for the current year.

Belden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Thursday, September 12th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Thursday, September 12th. Belden’s dividend payout ratio is 3.91%.

Insiders Place Their Bets

In other news, EVP Brian Lieser sold 819 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $91.26, for a total value of $74,741.94. Following the transaction, the executive vice president now owns 21,031 shares in the company, valued at approximately $1,919,289.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $91.26, for a total value of $74,741.94. Following the transaction, the executive vice president now directly owns 21,031 shares of the company’s stock, valued at approximately $1,919,289.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nancy E. Calderon sold 2,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.98, for a total value of $239,950.00. Following the sale, the director now directly owns 6,954 shares of the company’s stock, valued at approximately $667,444.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,137 shares of company stock valued at $1,095,457. Insiders own 1.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on BDC shares. Truist Financial lifted their price objective on Belden from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of Belden from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Benchmark lifted their target price on shares of Belden from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Vertical Research initiated coverage on shares of Belden in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $110.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Belden has an average rating of “Moderate Buy” and an average target price of $111.67.

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.