Belden Inc. (NYSE:BDC) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC increased its position in shares of Belden Inc. (NYSE:BDC) by 4.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,465 shares of the industrial products company’s stock after buying an additional 148 shares during the period. Verdence Capital Advisors LLC’s holdings in Belden were worth $406,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Matrix Trust Co acquired a new stake in shares of Belden during the 3rd quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in Belden in the second quarter valued at $28,000. GAMMA Investing LLC increased its position in shares of Belden by 72.2% during the third quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 117 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Belden in the 2nd quarter valued at about $95,000. Finally, Covestor Ltd grew its position in shares of Belden by 33.9% during the first quarter. Covestor Ltd now owns 1,166 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 295 shares during the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Stock Performance

NYSE BDC opened at $126.62 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 2.07 and a debt-to-equity ratio of 0.99. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of 29.45 and a beta of 1.07. Belden Inc. has a fifty-two week low of $64.13 and a fifty-two week high of $131.82. The business has a fifty day moving average of $114.32 and a 200-day moving average of $101.95.

Belden (NYSE:BDC) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. Belden had a net margin of 7.61% and a return on equity of 20.55%. The business had revenue of $654.90 million during the quarter, compared to the consensus estimate of $643.63 million. During the same period in the previous year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts predict that Belden Inc. will post 6.12 earnings per share for the current fiscal year.

Belden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Thursday, September 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.20 annualized dividend and a yield of 0.16%. Belden’s dividend payout ratio (DPR) is presently 4.65%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Benchmark raised their price target on Belden from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Truist Financial increased their price target on shares of Belden from $124.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Vertical Research began coverage on Belden in a report on Tuesday, July 23rd. They set a “buy” rating and a $110.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Belden has an average rating of “Buy” and a consensus target price of $122.75.

Insiders Place Their Bets

In related news, SVP Brian Edward Anderson sold 6,556 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Doug Zink sold 1,324 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $117.49, for a total transaction of $155,556.76. Following the completion of the sale, the chief accounting officer now owns 9,643 shares in the company, valued at approximately $1,132,956.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Edward Anderson sold 6,556 shares of Belden stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.46, for a total transaction of $658,615.76. Following the transaction, the senior vice president now directly owns 32,829 shares in the company, valued at approximately $3,298,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.59% of the stock is owned by corporate insiders.

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.