2,700 Shares in Belden Inc. (NYSE:BDC) Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in shares of Belden Inc. (NYSE:BDC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,700 shares of the industrial products company’s stock, valued at approximately $253,000.

A number of other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Belden in the second quarter worth about $28,000. Whittier Trust Co. grew its position in shares of Belden by 662.2% during the 1st quarter. Whittier Trust Co. now owns 343 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 298 shares during the period. Rise Advisors LLC acquired a new position in Belden in the 1st quarter worth about $32,000. TFO Wealth Partners LLC lifted its position in shares of Belden by 33,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,008 shares of the industrial products company’s stock valued at $78,000 after buying an additional 1,005 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Belden in the 2nd quarter worth $95,000. 98.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Belden

In other news, SVP Brian Edward Anderson sold 6,556 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.46, for a total transaction of $658,615.76. Following the sale, the senior vice president now owns 32,829 shares of the company’s stock, valued at approximately $3,298,001.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Brian Lieser sold 819 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 21,031 shares in the company, valued at approximately $1,919,289.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the completion of the sale, the senior vice president now directly owns 32,829 shares in the company, valued at approximately $3,298,001.34. The disclosure for this sale can be found here. Insiders have sold 11,137 shares of company stock valued at $1,095,457 over the last quarter. 1.59% of the stock is owned by insiders.

Belden Stock Down 0.9 %

Belden stock opened at $115.87 on Friday. The firm has a market capitalization of $4.73 billion, a P/E ratio of 22.68 and a beta of 1.07. The stock’s fifty day simple moving average is $101.96 and its 200-day simple moving average is $95.04. Belden Inc. has a twelve month low of $60.54 and a twelve month high of $118.26. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.95.

Belden (NYSE:BDC) last announced its quarterly earnings data 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. Belden had a return on equity of 21.13% and a net margin of 8.51%. The business had revenue of $604.34 million during the quarter, compared to the consensus estimate of $574.32 million. During the same period in the previous year, the company posted $1.91 earnings per share. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities analysts expect that Belden Inc. will post 6.04 earnings per share for the current fiscal year.

Belden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 12th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.17%. Belden’s payout ratio is currently 3.91%.

Wall Street Analysts Forecast Growth

BDC has been the topic of several recent research reports. Truist Financial lifted their target price on shares of Belden from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Benchmark lifted their price target on Belden from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Vertical Research started coverage on Belden in a research note on Tuesday, July 23rd. They set a “buy” rating and a $110.00 target price for the company. Finally, StockNews.com raised Belden from a “hold” rating to a “buy” rating in a research report on Monday, June 17th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.

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.